The Market The soybean market has been sliding heading into tomorrow USDA October WASDE report. The trade has positioned itself in the middle of the September trading range and is still positioned in a somewhat bullish position slightly above the 50-day trading average. The market has been trending lower the past ten sessions, but tomorrow’s WASDE will push this market definitively in one direction or another.
The soymeal market has been pushed the most and will ride whatever is said about soybeans and soyoil.
Like soybeans and soymeal, soyoil has slid lower this week but maintains more of the momentum. The support comes from palm oil with canola falling twice as much this week.
USDA’s Crop Progress r...
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...
