Soybeans Argentina Argentina received poor rains the past week and crop estimates keep dropping. The latest forecast fell another 3 MMT to 46.5, making this year the worst in the past 5 years. The weather in the next two weeks is crucial to maintaining production above 45 MMT. If the weather doesn’t improve, Argentina’s national production could drop even further. It is estimated that about 1 million planted hectares won’t be harvested due to the lack of water.
The market reported one trade last week at +43N FOB for June shipment. Most trades reported lately are not genuine demand from China but basically trading houses covering their shorts as origination has turned almost impossible. The FAS ma...
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...
