THE OPEN July beans: 2 higher July meal; .10 lower July soyoil: 10 higher July corn: 3 1/2 higher July wheat: 2 1/2 higher The markets opened as called with traders unwinding previous buy soy/sell grain trade. Corn led the way higher on technical considerations, with charts slightly more constructive and funds covering in partial short positions. Flooding in parts of the northern Corn Belt and concerns over un-planted acreage added to the rally. Rumors persisted throughout the day that China was looking to book corn and beans. SOY
The soy complex opened higher but prices turned lower with July meal trading into new contract lows from the opening. Meal became about 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...