Today was another mixed but generally bearish trading day in the New Year. Nothing has changed from the fundamentals of December when values generally moved higher, except maybe new doubts about the general direction. December’s highs are now on the defensive. The only thing holding up thus far is soymeal. Over the past week of trading, March corn is down nearly 27 cents, soybeans are off 45 cents and SRW is down over 27 cents.
The market sees ample Black Sea wheat, lots of incoming Brazilian soybeans and corn, but a strong dollar and the risk of recession and Chinese demand weakened by COVID. The U.S. Department of Energy added to the bearishness by reporting that gasoline demand last week was down by nearly 20 percent, with etha...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
