WASDE Key Points Everything in oilseeds world goes higher:
Global oilseed production at 647 MMT (+8 percent). Global soymeal production (4.25 percent) and exports (3.08 percent). Global soyoil production (3.9 percent) and exports (4 percent). U.S. soybean ending stocks (32 percent) and global soybean ending stocks (16.8 percent) both rise though stocks-to-use ratios remain relatively tight. China drives most of the increase in demand, and Brazil provides half the increase in supply. South American production will rebound in 2023, with Brazil producing 146 MMT, a 19.5 percent increase on 2.8 percent more area. Brazil accounts for half the global increase in soybean production. Argentina will produce 51 MMT, versus 42 MMT in 2021/22...
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...
