The Market The soy complex lost value this week but the overall trend remains up. In fact, November soybeans almost moved over $14/bushel early this week. The contract remains well above major support at 1347/bushel. Demand is strong at the same time intense dry heat is threatening to push average yield below 50 bushels/acre, which would net the smallest soybean crop in four years. For the week, November soybeans lost 18.5 cents or 1.3 percent; December soymeal gave up $15.40 or 3.7 percent; and December soyoil lost a fraction (0.11 percent).
Soybean speculators increased their net long position by 109 percent to 53,949 contracts. Soyoil being used to make diesel fuel remains a key driver. The U.S. Department of Energy reported t...
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...