Market Value A late week rally that pulled soybeans back above the 50-day moving average of $14/bushel was not enough to prevent an overall down week for complex. In fact, soybeans traded briefly yesterday at a one-month low. Factors influencing the market include:
Macroeconomic factors that vacillate levels of concern. China’s COVID lockdowns and relative demand. The strong U.S. dollar. Rising crude oil values. Argentina’s “soy dollar” loosening up soybean exports. Potential quality issues with Mississippi delta soybeans. Vladimir Putin threatening the duration of exports from Ukraine.
For the week, November soybeans were down 8.25 cents, December soymeal was down $7.00 and December soyoil was off 1.43...
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...
