While the reports were slightly positive for U.S. soybeans, that does not offset the overall negative outlook for the sector in the year ahead due to several reasons. WASDE and Crop Production Reports Slightly Positive for Soy Prices Today’s USDA crop production and supply/demand reports were slightly positive for U.S. prices. The net impact of the reports was to reduce the forecast for U.S. soybean ending stocks on 31 August 2016 by 25 million bushels to 40 million bushels (11.98 MMT). However, USDA did not see that as very positive since it decreased the midpoint of its average price forecast for 2015/16 by $0.10/bushel to $8.80/bushel. Among the more significant items in today report are the following:
USDA’s estimate for U.S. soybe...
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...
