THE OPEN
Jan beans: 2 1/4 lower Dec meal: .80 lower Dec soyoil: 1 lower Dec corn: 1 1/2 lower Dec wheat: 1/2 higher
The markets opened as expected with funds ready to sell on the opening rally. Major features of trade were that of buy soyoil/sell meal, and buy corn/sell wheat. Farmers continue to harvest in the last of the crops in the field, and are waiting for better levels at which to sell it. Today's trade turned very technical, as a short-covering open from the PM session resulted in weaker values, particularly for beans. Chatter around the industry is that the “phase one” U.S.-China trade deal will include beans and wheat, but perhaps not corn, which is leading to buy beans and wheat trade/sell corn over an exten...
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...