Putin’s threats to Ukraine’s exports dominated yesterday’s trading, together with concerns about macroeconomic contraction, but both issues were somewhat muted today. The ECB raised interest rates 75 basis points, the largest increase in 23 years, but impressions remold into believing central bank concerns are rooted in economic growth that is fundamentally expansionary. In a similar vein, Ukraine’s grain exports may continue if the White House is correct in asserting that the grain export corridor is not falling apart and is having its intended effect. However, it seems unlikely that Putin is in a generous mood while Ukraine presses a counter-offensive. Ukrainian exports will be reduced no matter what.
Trade esti...
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...
