THE OPEN beans: 7 higher meal: 1.50 higher soyoil: 41 higher corn: 2 1/2 higher wheat: 2 lower The markets opened as called with the soy complex led by soyoil, which posted new contract highs on the back of continuing strong canola prices and business. Wheat lost its upward momentum, unable to drive past recent trading range highs, taking corn along with it. Neutral to low end export sales did not provide a spark of support for the morning, though the USDA Outlook's supply and demand report kept ending stocks snug, which will be supportive at trading range lows. SOY
The soy complex started the day on a strong note, with technical upside follow-through in soyoil which posted new contr...
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...