The Market Another week of gains for soybeans and soymeal, with soyoil taking it on the chin. After reducing their net long positions in March, speculators have been rebuilding them thus far in April. Soymeal options are also advancing. Palm oil futures were in a deep trough back on 24 March, firm exports and falling stocks coupled with rising petroleum prices produced a recent high on 4 April. They have been mostly descending ever since due to lower exports. This weakness spilled over into canola and expectations are that it could fall below C$700/MT.
Export Sales Last week’s export sales probably met expectations. Soybean sales were up from the previous week and above the previous four-week average. Soymeal sales are robu...
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...
