Soybeans were lower overnight with wheat and corn slightly higher. That was also today’s pattern, except that wheat found good buying soon after today’s session opened and traded 12 to 16 cents higher in all three wheat markets for most of the day. It was more talk about how bad the EU drought has gotten that pushed wheat higher. More angry words between the U.S. and China kept pressure on soybeans. The six- to 10-day U.S. weather forecast looks hot and dry across most of the Corn Belt and northern plains as today’s maps show:
This forecast should be somewhat positive to soybeans. The USDA will release their crop production estimates and supply/demand revisions (WASDE) this Friday. Corn and soybean markets should be t...
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...
