The soybean market has been jostled this week, always by weather anomalies, second by a crop progress report that showed, well progress, and third, controversial trip to Taiwan by U.S. House Speaker Nancy Pelosi. Taking these issues one at a time: Weather conditions are sub-optimal, with more rain needed in western soybean growing areas, but it is not yet a disaster. As always, stay tuned. This past Monday’s USDA Crop Progress report showed a one-point increase in the share of soybeans rated good/excellent, and the share blooming is now just about normal. The percent setting pods is behind but, as the share blooming showed, can catch up quickly.
Finally, there is the Pelosi controversy. August is typically a big month when China m...
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...
