The Market After hitting a four-year low last week, November soybeans reversed course this week, adding 25.75 cents (2.33 percent) to end at 1129.75/bushel. It was driven by strong demand in soyoil for renewable diesel, and possible trade retaliation by China against major palm oil supplier Indonesia. December soyoil added 4.91 cents (11.21 percent) to end the week at 48.7/pound. December soymeal failed to benefit, it lost $3.00 (-0.89 percent) to end the holiday shortened trading week at 332.5/ST. The Malaysian palm oil contract rebounded after a three-week decline, and canola was dragged higher with the January ICE contract adding 6.74 percent in value.
The CFTC’s Commitment of Traders report is delayed until Monday but sh...
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...
