World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: Weather, Specs and Cheap Prices

The weather is bearish, except for spring wheat, and speculators are record short. Even having the cheapest grain in the world cannot spark enough new demand to slow the slide. Finding a bottom requires a supply shock, and the potential 20 MMT loss in Black Sea production due to drought is not enough of a decline to make a difference. Today’s trading had the following milestones: New contract lows for December corn, November soybeans, December soyoil, and September HRW. September HRW and December soyoil both closed higher despite finding contract lows earlier in the session. Cattle turned bearish despite having a supply shock situation.  For the week, five major contracts hit new lows. September HRS had a sma...

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feed-grains soy-oilseeds wheat

Market Commentary: Strong Friday and an Upward Bound Week

If yesterday’s trading looked like uncertainty ultimately succumbing to the bulls, today’s trading opened with the bears fully in charge. Contracts opened lower and mostly stayed that way until late morning when there appeared to be an epiphany with the bulls and they took charge. I...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.425/bushel, up $0.03 from yesterday's close.  Jul 25 Wheat closed at $5.5475/bushel, up $0.0925 from yesterday's close.  Jul 25 Soybeans closed at $10.5725/bushel, up $0.055 from yesterday's close.  Jul 25 Soymeal closed at $295.7/short ton, down $1.4 fro...

Beyond the Report Headlines: Measuring Trump’s Effects

The BLS released the employment report this morning indicating that the U.S. added 139,000 jobs in May, down slightly from April’s revised 147,000, but slightly above pre-report forecasts of 126,000. However, payrolls were revised downward an unusually large 95,000 for the prior two month...

feed-grains soy-oilseeds wheat

Market Commentary: Strong Friday and an Upward Bound Week

If yesterday’s trading looked like uncertainty ultimately succumbing to the bulls, today’s trading opened with the bears fully in charge. Contracts opened lower and mostly stayed that way until late morning when there appeared to be an epiphany with the bulls and they took charge. I...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.425/bushel, up $0.03 from yesterday's close.  Jul 25 Wheat closed at $5.5475/bushel, up $0.0925 from yesterday's close.  Jul 25 Soybeans closed at $10.5725/bushel, up $0.055 from yesterday's close.  Jul 25 Soymeal closed at $295.7/short ton, down $1.4 fro...

Beyond the Report Headlines: Measuring Trump’s Effects

The BLS released the employment report this morning indicating that the U.S. added 139,000 jobs in May, down slightly from April’s revised 147,000, but slightly above pre-report forecasts of 126,000. However, payrolls were revised downward an unusually large 95,000 for the prior two month...

livestock

Even After Recent Market Gains, Hog and Pork Outlook Remains Rosy

Anyone following the hog and pork markets recently has seen the volatility that preceded the recent surge to new contract highs, and the lack of consensus in the industry’s outlook. The USDA will issue their quarterly Hogs and Pigs report at the end of June, which will help inform the ind...

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From WPI Consulting

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