The Market Rains in South America provided overall downward pressure in oilseeds this week. At the same time, there is damage that has been done as the Buenos Aires Grain Exchange pegged the Argentine soybean crop at 12 percent Good/Excellent, a decline from 19 percent a week ago. There remains adequate U.S. domestic demand and persistent bull spreading in soymeal reveals strong commercial demand. Consequently, January soybeans wobbled but ended the week down just a penny (-0.068 percent), March soyoil gained 1.29 cents (2 percent) and March soymeal lost $8.90 (-1.9 percent).
Thus far in December, the spot contract for corn is up 0.7 percent while the spot soybean contract has risen 3 percent. This has made the gap closer for soybeans i...
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...