The Market The March soybean contract ended 2022 at $15.24/bushel, the fourth yearly rise in soybean values. As this first week of trading in 2023 comes to an end, March soybeans are down 31.5 cents at 1492.5/bushel. March soyoil lost almost a penny this week while March soymeal saw a net gain of $6.60 and is valued at 477/6/ST. In fact, today saw a contract high with March soymeal trading intrasession at 479/ST.
The question is whether soybeans were overdone in 2022 and are now part of a broader commodity sell-off for 2023? Or is this just one more in a long series of retracements as the market gyrates trying to find real value?
Despite the decline in soybean prices, the weekly CFTC report showed non-commercial soybean specula...
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...
