The CBOT mostly drifted lower in lackluster trade overnight until Russia’s President Putin made comments that hinted the country has few intentions of extending the Ukrainian grain export corridor agreement. President Putin did not explicitly say that his country won’t extend its agreement with Ukraine but claimed the existing deal has not increased export to developing nations, which – according to Russia – was a primary goal of the agreement. The doubts now surrounding the Ukrainian grain export outlook caused a sharp rally in wheat futures, which rose as much as 50 cents and pulled corn and soybeans higher as well. By the closing bell, however, corn and soybeans pulled back and posted small losses as pre-WA...
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...
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Illuminating the value of technical research
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