The Market The September USDA WASDE will be issued on Tuesday, 12 September and most analysts believe the agency will reduce the average soybean yield from the August estimate of 50.9 bushels/acre to 50.2 bushels/acre. However, analysts have a tough time guessing USDA’s September soybean numbers. Prepositioning ahead of the report, soybean values were cut less than one-half percent. Following a global shift lower for vegetable oils this week, the December soyoil contract was lowered by 4.4 percent. And observing gangbuster export sales in soymeal, the December contract gained almost a half percent. Soybean speculators reduced their net long position by 13 percent to 46,848 contracts.
Export sales are now shifting to the new market...
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...
