THE OPEN Jan beans: 18 3/4 higher Dec meal: 7.70 higher Dec soyoil: 15 higher Dec corn: 3 higher Dec wheat: 2 3/4 higher The markets opened higher with more buy bean/sell wheat spread trade and buy meal/sell soyoil. Bull-spreads were firmer as the markets returned to strength. Traders continue to hear about corn and bean Chinese business, but have yet to see confirmations. The weaker US dollar continues as a positive back-drop for commodities in general. SOY
The key feature of the complex was that of new contract highs in beans as well as profit-taking in oilshare. Jan beans found new buying from a less-than-expected long commitment-of-traders report, and ru...
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...
