THE OPEN November beans: 3 1/2 higher December meal: 1.00 higher December soyoil: 11 higher December corn: 3/4 lower September wheat: 2 1/2 higher The markets opened as expected with buy wheat/sell corn and buy meal/sell soyoil fan-favorite spread trades. Oilshare values were higher while corn markets sold off into new lows. SOY
The soy complex traded on a firmer note with beans extending gains in the early going with soyoil prices putting in a firmer trade. November beans saw a good round of buying activity based on technical price action, while December soyoil futures climbed back over the 200-day moving average of 3048c, which triggered more buying. Dec so...
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...