The Market Drought in Brazil drove soybean prices higher and now rain in Brazil is driving the market lower. If it turns back dry as expected, then pricing will firm. For the week, soybeans lost 7.25 cents, but soymeal gained $1.60 to 436.50/ST. The January contract hit a new high on Wednesday at $460.60/ST. The largest percentage gainer across grain markets for the week was January soyoil, adding 0.66 cents to 51.21-cents/pound. The bullish NOPA crush report was the inspiration.
The CFTC reports that in the week up to 14 November, speculators increased their net long position by 48 percent to 59,077 contracts. USDA Export Sales report reflected the recent surge in Chinese soybean purchases. In fact, weekly U.S. soybean export sa...
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...