THE OPEN March beans: 7 higher March meal: .10 higher March soyoil: 89 higher March corn: 1/2 higher March wheat: 5 higher Prices opened as called but corn became the sell leg of wheat and beans. Money flows headed to equities today as Ag prices stalled at the open, with most of the markets in a low volume congestive trade. Meal prices sank back to test new contract lows even as soyoil prices remained firm. SOY
March bean prices moved into key resistance at $9.88, but when price action stalled, bulls took profits and new bears decided to hope on board on the lack of upside follow-through. March soyoil drifted lower for most of the day against a steady- to-...
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...
