THE OPEN July beans: 1 3/4 lower July meal: 2.00 higher July soyoil: 1.40 lower July corn: 3 higher July wheat: 1/4 lower Prices opened as called but the soy complex was defensive at the open led by lower soyoil values. Corn prices found quick support heading higher against the soy. Main trends were firmer grains vs. soy, and higher meal vs. weaker soyoil as traders booked profits in oilshare. SOY
The soy complex was in defensive mode after the start of the trading session, with a large sell-off in July soyoil into key lower support at 6450c where sell-stops were triggered taking prices to new lows at 64.28c. Traders found the sell-off handy to reapply buy soyoil/sell meal trad...
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...
