South American weather improvement hung over the market all week, and though December's WASDE report reflected a dent imposed on Brazil's soybean crop by drought, USDA still sees more Brazilian soybeans than does its Brazilian counterpart. However, it was not taking down global soybean stocks as much as expected that solidified this week as a loss. January soybeans lost 21 cents, January meal gave up $8, and January soyoil dropped 1.25 cents.
Malaysian palm oil futures closed higher today, snapping a five-session losing streak as other vegetable oils saw some gains. Palm oil prices are at their lowest in a month. USDA’s weekly Export Sales report showed continued large commitments to take soybeans.
USDA’s soybean ex...
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...
