THE OPEN
March beans: 3 higher March meal: 2.90 higher March soyoil: 34 lower March corn: 1/2 higher March wheat: 7 1/2 higher
The markets opened as expected with wheat making new highs at the start of the day on news that the Russian Ag Ministry proposed a plan to implement a first half 2020 grain export quota system. This is a story that is always supportive for wheat and drove the market to trading range highs today. Corn tried to follow but, once again, found pressure as it neared the upper end of its trading range. Wheat became the story of the day, as corn prices and other markets faded from beginning strength, with oilshare seeing support at recent lows. SOY The soy complex opened as called with more buying surfacing in b...
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...
