Soybeans The market was pretty calm last week while waiting for definition on a few points. The first was the October WASDE report, which showed fewer ending stocks in the U.S. than was expected. That drove the CBOT sharply higher with significant volatility. Additionally, meetings between U.S. and Chinese trade negotiators on Thursday and Friday attempted to sort out the trade deal. The market has been waiting for the results of this meeting for several weeks now. Of course, there was the announcement from Trump that suggested at least a tentative deal had been reached, but that was not confirmed by the Chinese. It seems there were several points to resolve before really having a deal. The Chinese are waiting for the deal to...
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...
From WPI Consulting
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