Volume was lower on Friday, as is generally par for the course. Notable metrics for the day include:
December lean hogs hit a new contract high at 91.525/cwt. December corn moved below the 20-day moving average, a bearish signal. While corn opened and closed in the red, soybeans flipped the bear’s grip later in the session and eked out a gain. Soyoil tried a similar gambit but failed. Wheat hugged the throne all session
For the week as a whole, all three wheats hit new contract lows, as did Paris. It was the second straight week lower for corn, the soybean complex, plus SRW and HRW. There was higher volume through the week pushing soymeal lower.
The one-year change in price does not reflect some of the over-archin...
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...