THE OPEN November beans: 3 3/4 lower December meal: 1.20 lower December soyoil: 8 lower December corn: 1 1/2 lower September wheat: 1 1/2 higher The markets opened as called with continued price congestion. Inter-market spread trade saw some unwinding as funds bought wheat/sold corn. Funds were net buyers of corn yesterday, with open interest declining which suggested that this week's rally was short-covering and not those searching to get long. While that was not positive news for the corn market, the technical price action was extremely stabilizing. SOY
The soy complex put in a mixed performance today with beans in consolidation trade and products mixed.&nbs...
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...