The Market Soybeans hit a three-month peak last week, but profits were taken Monday and after that they could not fully recover. The January contract lost 3.75 cents (-0.25 percent), though at $14.80 they remain well above support at $14.30/bushel. Soymeal followed by losing $8.60 (-1.8 percent) but the contract is sitting at a 10-year high and will continue to face technical selling. By contrast, after two weeks of declines due to EPA’s bearish biofuel announcement, January soyoil netted a 3.35 cent (5.5 percent) gain this week. No matter, the oilseeds sector remains the more glamorous crop sector with tight stocks and a fun story to tell.
This is a market that remains torn between the prospect of a record soybean crop in B...
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...
