The annual USDA Agricultural Outlook Forum will take place next week (22-23 February) in Washington, DC. USDA will issue preliminary unofficial estimates of the U.S. 2018 corn, soybean and wheat crops as part of the 10-year projections. It had released preliminary baselines in November 2017, and there is a wide range of ideas regarding the numbers USDA will use for planted acres, yield, production and 2018/19 carryout.
The 2018 corn planted area should reach 89-90 million acres compared with 90.2 million last year, and the yield should be below last year’s record 176.6 bushels/acre at probably around 174 bushel/acre. This would put production at 14.390 billion bushels versus 14.604 billion bushels last year and carryout for MY 2018...
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...
