Wheat is headed for a haircut this week while soybeans remain in the catbird seat, but the sum of the day was a pause with some profit-taking. Chicago has already added lots of war premium with a dose of weather topping. Today was a breather to see where this all goes, especially U.S. spring planting. It was the third day of losses for wheat while soybeans remain on a roll and corn is bobbing and weaving.
There is nothing in the U.S. western wheat area that looks very good. Worst, NOAA’s long-term outlook calls for more of the same. The Midwest gets a break next week, and that will aid a planting schedule that has had a slow start, but the larger pattern looks too cool and damp. The safrinha corn crop in Brazil remains...
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...