Wheat The outlook for wheat continues to get more complicated with rains failing to arrive and temperatures beginning to rise, thus increasing the crop's water requirements. Some light rains fell at the end of the weekend, but fields generally have very little water, with insignificant or insufficient moisture reserves in most of the wheat area.
The drought is sufficient to have some analysts already discussing a wheat crop of 17-17.5 MMT, which sounds optimistic to WPI, unless there is a radical change in precipitation patterns in the coming days. The crop in the core zone is the most affected, and the share of wheat fields rated in regular/bad condition rose from 54 percent last week to 70 percent this week. In some...
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...
