The market had been positioning in advance for today’s USDA Acreage and Q2 Stocks reports to be bearish and traders were generally rewarded. Though corn absorbed the harshest reaction, more than half its weekly losses occurred earlier in the week. For the week: September Corn: -7.5% November Soybeans: -1.42% December Soymeal: -1.72% December Soyoil: -1.32% September SRW: -0.39% September HRW: -0.12% September HRS: -0.68%
Wheat and soybean planted acres came in a half-percent below the average pre-report estimates, but corn acres were 1.6 percent larger than expected. Can the acreage numbers be trusted? Not all of the acres were actually planted when the survey was conducted during FH June, meaning assumpti...
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...
