THE OPEN Nov beans: 9 higher Dec meal: .20 lower Dec soyoil: 120 pts higher Dec corn: 4 higher Dec wheat: 10 higher Prices opened as expected with upside follow-through on a good technical close and chatter that China has come back and booked beans. Spreads also strengthened which helped the bull's cause. Later in the session soyoil prices turned lower from higher, taking bean prices along for the ride as a new headline was released that stated the EPA was considering cuts to biofuel blending obligations for 2020, 21, and 22. Chinese markets opened and stocks were down only fractionally, which helped to stabilize markets globally, particularly the US. SOY
Bean pric...
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...
