The Thanksgiving holiday week closed with a day of very light trading volume and little interest in the markets. Following are a few news items from this week that are worth considering:
AgRural said today that Brazil’s early soybean crop outlook could be the best ever, and the consulting group’s initial forecast is 123-129 MMT. There has been some concern about how wet conditions have been, but it seems the crop was planted earlier than in the past few years. Wet weather in Argentina has also prompted chatter about the potential for quality problems in that mature wheat crop. The harvest, however, is pegged at 22 percent complete, which is right at last year’s pace. The grain exchanges there have reduced their product...
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...
