The outlook for U.S. soybeans has undergone a quick and remarkable change over the past three months after being decidedly bearish in February and early March. U.S. Hard Red Winter Wheat Crop The U.S. is harvesting a big hard red winter wheat crop, which USDA acknowledged last Friday by boosting production 6 percent from the May estimate. As we’ve suspected since the rains started falling across that region in April, though, the problem is that the protein content will be very low. It is well under 10 percent in some areas, and much of Oklahoma’s crop will likely be below 10.5 percent. Meanwhile, domestic mills typically want 10.8 percent or higher. The 2015 hard red winter wheat crop was not very desirable from a milling perspective, so...
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...
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Accountability and a comprehensive approach to export programming
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