THE OPEN Jan beans: 1/4 higher Dec meal: 80 lower Dec soyoil: 30 higher Dec corn: steady Dec wheat: 1 1/2 lower Prices opened as called with grains heading lower and the soy complex heading higher led by soyoil futures. Prices opened at the upper end of trade expectations, with soyoil futures following on the heels of a sharply higher palm oi market, which traded to one-year highs. Beans were supported by chatter that China has been in the market for both US and Brazilian beans this week, as they tender for end-of-year needs. Buy soy/sell grain trade and buy soyoil/sell meal spreads were ongoing features of trade for the day. SOY
The price action in the soy complex feat...
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...
