More Russian complaints about the Black Sea export corridor agreement overnight helped push wheat higher in heavy volume. Wheat was the only market to see significant trade, however, and the other major ag markets drifted listlessly in low volume. The Kremlin said the outlook for the export deal is “not good” and noted again the “obstacles” to exporting its own grain crops. Russia is apparently angling to get back on the international SWIFT payment system, from which it was removed following the 2022 invasion of Ukraine. Beyond Russia’s statements, there was little fresh news for the grain and oilseed markets and futures largely continued their existing trends. Corn and soybeans saw active bull spreading...
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...
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