The Market The market has been squeezed between lower export demand but rising palm oil prices, with the latter pushing soybean prices to the highest in over a month. Rapeseed futures have risen to a four-month high. Canola added 0.5 percent this week and Dalian soybeans added 2 percent. However, as palm oil began sliding late this week the soy complex went down with it. After challenging resistance on Thursday, May and November soybeans fell back on Friday. The May contract ended the week down 0.25 percent at 1195.25/bushel. May soyoil took the biggest hit, losing 2.95 percent and ending the week at 47.96/pound. By contrast, soymeal remains in the catbirds seat with the My contract adding 1.4 percent to end at 339.4/ST.
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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...
