There was little in terms of new fundamentals today, and on generally lower volume the board saw mixed trading and results. It was a big week for HRW as the acuity of the drought in the Southern Plains becomes clearer. Overall, the trends are as follows:
It was the fourth week in a row lower for corn and lean hogs. It was the third week in a row lower for soybeans and soyoil. After three straight weeks of being lower, HRW and HRS turned higher this week. SRW turned higher after two weeks of declines. There were death crosses for corn, soybeans, and soyoil as their 20-day moving averages crossed below their 50-day MA’s.
Unlike corn, soybeans, and soyoil, soymeal did not end lower due to South American production or tarif...
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...