THE OPEN July beans: 4 1/2 higher July meal: 1.00 higher July soyoil: 23 higher July corn: 1 higher July wheat: 2 lower Prices were mixed at the open with wheat lower as Egypt's tender was filled by Ukraine and harvest begins in Oklahoma. More rumors of additional Chinese inquiries kept beans afloat from the start of the day, creating a buy bean/sell wheat spread trade. Before the open, USDA reported that China had indeed purchased 120,000 mt of beans. Buy bean/sell corn trade was also noted. SOY
The feature of the day was fund buying in beans and soyoil, as oilshare pushed to new highs. July soyoil found support on market pullbacks that allowed prices to test the 28c level.&nb...
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...
