The Market Prices generally decline in August ahead of the harvest and that is generally true right now. November soybeans fell 3.5 percent this week and have fallen 6.4 percent since the 2023 high on 24 July. But there are also more price supportive factors than usual. December soymeal fell 1.9 percent this week and December soyoil dropped 1.4 percent.
USDA’s August WASDE report a week from today is unlikely to show much yield reduction. A StoneX survey reflects expectations of USDA lowering soybean yield from 52 to 50.5 bushels/acre and production falling 2.9 percent from July’s WASDE to 4.3 BBU. However, the trade tends to be on the low side of USDA for the August estimate, and even the trade’s numbers will me...
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...
