The CBOT started the day on a strong note and tried to capitalize on Tuesday’s strength but faltered and ended lower after updated weather models showed meaningful rains for Argentina and southern Brazil in the next two weeks. This week remains relatively dry, but the EU and GFS models show a strong storm system moving in starting early next week and intensifying into February. That caught funds by surprise and sparked a round of position liquidation and short covering in the grain markets. Aside from the South American weather forecast, there was little fundamental news to help guide markets on Wednesday, leaving the rainy forecast to keep futures moving lower.
Uruguay’s Agriculture Minister Fernando Mattos said the co...
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...
