THE OPEN Nov beans: 1 1/2 higher Dec meal: .70 higher Dec soyoil: 5 higher Dec corn: 2 1/4 lower Dec wheat: 1/4 higher The markets opened as expected with oilshare continuing to bounce along with wheat prices. Buy wheat/sell corn and buy soyoil/sell meal trade was a key feature for the morning. Charts spent much of the day breaking to new current lows for corn, meal, and beans, while soyoil and wheat remained well supported. SOY
The major feature in the soy complex was that of rising oilshare, which bounced courtesy of a steady and congesting soyoil chart vs. a weaker meal market. Sell-stops were triggered when Dec meal took out $309.00, signali...
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...