THE OPEN November beans: 2 higher December meal: steady December soyoil: 29 higher December corn: 1 1/2 lower December wheat: 1 lower The markets opened on a cautious note as we head towards the Labor Day weekend. Rumors of bean business were around yesterday, so were merely confirmed this morning. Corn futures trended weaker as prices build resistance on the charts. Charts remain generally over bought, and in some cases extremely so, leading to what could be a couple of sessions of choppy trade. Later in the session, negative macros spilled over into the Ag space, resulting in more long liquidation trade. SOY
The soy complex opened as expected, which was met with a round...
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...
