The Market On the one hand, soyoil rallied this week due to rising crude oil prices, and despite weakness in palm oil. The May soyoil contract added almost a penny or 1.9 percent. Soyoil has managed advances in five of the past six trading sessions. By contrast, this was a week in which soymeal took hits. The May contract ended the week down $6.60 or 1.9 percent. May soybeans lost 6.5 cents or 0.54 percent.
Weighing down the market is Brazil, with around 80 percent of its soybeans harvested and exports in March at 12.6 MMT. The U.S. export picture is mixed. On the one hand, USDA export inspections were bearish, and 1 March soybean stocks were the highest in many years. But Census tabulated soybean and soymeal exports looked good,...
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...
