Weather and Ukraine remain bearish factors in agricultural markets. UN Secretary-General Antonio Guterres visited Ukraine today and highlighted that 21 ships have departed Ukrainian ports less than a month after signing the access deal, and 15 vessels are in transit for Ukraine to load more grain and other food supplies. The rains moving across the U.S. are not uniformly beneficial, mostly aiding winter wheat areas pre-seeding and lower corn and soybean states. Nonetheless, it is helpful and rains in Europe will stop the drought from doing anymore damage. The International Grains Council weighed in with a mixed set of changes:
Corn: Global production was lowered by 10 MMT (-0.8 percent), with ending stocks reduced 6 MMT (-2.2 p...
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...
