THE OPEN Jan beans: 19 1/2 lower Dec meal: 10.60 lower Dec soyoil: 79 lower Dec corn: 12 lower Dec wheat: 12 3/4 lower The markets started a much-needed correction to the downside on a macro risk-off day of selling pressure, which also brought about a higher US dollar. Charts were a bit more on the negative side with small reversal patterns showing which prompted long liquidation, and the start of correcting extremely overbought conditions. The mission of the market now is to define an appropriate trading ranges from the top. SOY
The soy complex traded lower on the day as technical profit-taking took place in order to correct extreme overbought conditions. End-users helpe...
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...
