Monsanto today lowered its forecast for U.S. plantings of its Roundup Ready 2Xtend soybean this year from 3 million acres to 2 million acres. U.S. processors and exporters have indicated they will not buy any of the soybeans until a certain approval is issued. USDA Report’s Soy Highlights Today’s USDA WASDE report was a bit more bullish than the trade was expecting for 2015/16 but a bit less than this writer was expecting for 2016/17. It provided the first look at USDA forecasts for MY 2016/17, which is always interesting since the report is issued five months before the new marketing year begins. That will take some time to analyze, but following are some of the key items in the report for the current and next marketing years: 2015/16...
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...
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