Overnight trading saw markets firm after yesterday’s higher close in corn. Commercial pricing was heavy yesterday in the corn market and the overnight session continued that trend. Wheat futures were higher as well in a dead-cat bounce from technically oversold conditions and firmer UK feed wheat and Paris wheat futures overnight. The soy complex was higher as well, despite continued weakness in palm oil futures. The day session featured light volume and higher prices as the questioning of USDAs’ 91.7 million corn acres intensifies. Given the good odds that USDA will lower its acreage estimate in the pending follow-up survey, the market is now looking to see how bullish that figure might be. Stronger basis across th...
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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