Talk of a new commodity supercycle largely involves big money centers like petroleum, with agricultural commodities along for the ride. After all, the nearby WTI contract traded over 11 times the amount of money today than did the counterpart corn contract. Crude oil continued its upward trajectory today, now up 32 percent on the year; soybeans are up 7.5 percent. But then OPEC controls a significant portion of the oil supply whereas Mother Nature is a large determinant of soybeans. USDA’s Export Sales report would have made it a very bearish day on the CBOT except South American weather continues its ugly pattern. Those looking for volatility and impending market changers are citing three upcoming reports out of USDA:
Mar...
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...
