Crop Progress USDA’s Crop Progress report lowered the share of soybeans in the combined Good/Excellent category by one point to 57 percent, but that is still one percent higher than last year. Meanwhile, the crop is just about fully bloomed, and pod setting has almost caught up to the recent average.
Soybean Prices Except for the mid-week slump, it was a relatively bullish week for soybean futures considering the good condition of the crop and now favorable rains in the Midwest. The ProFarmer crop tour saw less corn than in USDA reports but concluded that USDA’s estimate of 4.531 million bushels of production was too low by a few thousand bushels. For the week, November soybeans added 57.25 cents, December meal added $26.20...
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...