Speculators have been reducing their market exposure for the last several sessions but today still had some unique attributes:
Higher volume in corn, SRW, feeder cattle and lean hogs. Above average volume in corn despite the trading range only being six cents. November soybeans had a relatively narrow 11-cent trading range, and the gains were larger in the longer dated contracts. Gains were also larger in longer dated SRW contracts. There were 66,478 December soyoil contracts traded and the result was zero change in price. Higher volume in the October feeder cattle contract drove it to a new intra-session high.
What you are reading is not the totality of the market but the synthesis of many different analyses. USDA&rs...
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...
