Despite shuttle rail freight values that are now $200-400 per car UNDER tariff through September, there is no demand. Farmers are unhappy with both old crop and new crop prices and aren't selling. All of this makes it tough for railroads to plan crew and equipment needs
Shuttle rail freight continues to be very cheap. Values through September are now $200-400 per car UNDER tariff. Remember, there was a time when values were $4,000-5,000 per car OVER tariff. Harvest values (Oct/Nov/Dec) are now just slightly above tariff. There is no demand for shuttles today. Farmers are unhappy with both old crop and new crop prices and aren't selling. Shuttle loaders are reluctant to take their foot off base and book much freight even at or below tarif...
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...