Today’s trading opened with a head scratcher after USDA reported 135 KMT of U.S. corn sold to China. There isn’t any corn import demand in China, and if there was it probably would not originate from the U.S. It was quickly corrected to be bound to South Korea. Nonetheless, the day turned into the first session of the week for gains in corn and soybeans. Reports USDA’s weekly Export Sales report was disappointing for soybeans since they were down for both old and new crop positions. Soymeal was also down. Wheat sales and exports were adequate and while collective old and new crop corn sales were up over the previous week, they were below the levels of new commitments in early July.
Weather U...
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...
