With mostly average to lower trading volumes and narrow trading ranges, there is some speculative comfort ahead of USDA’s September WASDE arriving just two trading days ahead. These could be harvest-lows, assuming USDA sees crop yields like those now priced into the market. The book and movie about WWI and all quiet on the Western Front really meant there was angst around the uncertainty. In this holiday shortened-trading week, corn gained a fraction despite the trend of late being sideways lower, and soybeans shed a few cents despite it being characterized as trending higher. SRW wheat was a wash. The winner again was soymeal, which is dominating the export market and thus getting rewarded in the trading pits.
Actual...
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...
