The Market The January soybean contract managed to end the week higher after decent declines but settling at 1315.75/bushel still leaves it below the 100-day moving average of 1337/bushel. A key determinant is whether central-northern Brazil turns back wetter for the last half of December and January. Notably, with U.S. soybean ending stocks forecast at their lowest in eight years, prices are currently above $13/bushel for the remainder of the marketing year. For the week, January soymeal gained 90 cents and is valued at 405.6/ST, and January soyoil lost 0.21 cents and settled at 49.99/pound.
Speculators cut their net long position in soybeans by nearly 60 percent to 2,538 contracts. USDA’s weekly Export Sales report showed that...
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...
