The Market After losing 18.25 cents last week, the July soybean contract lost an additional 29.75 cents this week. After seven straight losing sessions, July soybeans rebounded today by 15.5 cents. July soymeal went seven losing sessions before closing unchanged yesterday and adding $5.00/ST today. July soyoil has had only a slightly better losing streak. It was down 1.9 cents/pound this week after a smaller loss last week. Other vegetable oils have also turned southward in pricing.
Still, there are too many bearish pressures:
Brazil’s large crop is dominating export sales. A shortage of storage makes moving soybeans out more important. It has been a good start in planting the new U.S. soybean crop. Chinese soybean impo...
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...
