The Market In this holiday shortened trading week, November soybeans are up 23.5 cents (2.35 percent). The rally in prices has caused deliveries to increase against December futures. Futures have been rising but basis levels are weak, raising doubts about real demand.
December soymeal is up $13.50 (4.3 percent) but is now up against resistance levels.
December soyoil was up today but for the week thus far is down 0.84 cents (-4.3 percent). November canola are down 4.3 percent.
USDA’s Crop Progress report showed a larger than expected drop in quality. There was a 2-point drop in the share of soybeans rated good in quality, though the crop still gets high marks.
The USDA weekly Export Sales report for the...
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...
