U.S. farmland values quadrupled over the last decade as record-high prices, good crop production and a generous crop insurance program created a big demand.
Talk of weak margins and lower profits continue to reverberate through the grain industry. According to a Reuter’s story late last week, Cargill is planning to lay off as much as 2.5 percent of its workforce. The company hasn’t confirmed that report but has announced a restructuring of top management. The world ocean freight market continues to weaken with the Baltic main sea freight index hitting a record low this week. The problem is the weakness in demand for industrial commodities coupled with new vessels still coming on line. Bulk grain and oilseed shipments account for just 10...
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...
