THE OPEN March beans: 3/4 lower March meal: 1.30 higher March soyoil: 29 lower March corn: 1 1/2 higher March wheat: 1/4 higher The markets opened as called with more short-covering in corn futures helping to stabilize prices elsewhere on the board. Profit-taking in oilshare was also a feature as traders bot meal against soyoil. Most of the lows this morning hit key bottom targets which helped to create a short-covering atmosphere around the board. Spreads were firmer with funds short March in corn and beans, with the roll keeping the spreads tight. SOY
The main feature in the soy complex was that of weaker oilshare, as meal prices strengthened off the lows.&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...