THE OPEN Jan beans: 3 higher Dec meal: 1.10 higher Dec soyoil; 18 higher Dec corn: 2 higher Dec wheat: 5 higher The markets opened higher and found light profit-taking heading into the weekend. Oilshare traded firmer on unwinding of previous buy meal/sell soyoil trade. With funds long and adding this week, it would be natural for Friday to find end-of-week position squaring. Buy soy/sell grain trade and buy soyoil/sell meal were fan favorite spreads today. SOY
The soy complex started the day higher but the rally this week was met by an air of caution at new benchmark highs. Jan crush falls to 1.22c/bu while oilshare trades higher to 31.72%. The a...
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...