THE OPEN:
Nov beans: 1 lower Dec meal: .50 higher Dec soyoil: 1 lower Dec corn: 1/4 lower Dec wheat: 1 1/2 lower
The markets put in a poor close to finish yesterday’s PM session, but opened firmer than expected as funds took early weakness as a further short-covering opportunity. Before the open, USDA reported 252,000 mt of beans sold to China for 2019/20 and 130,000 mt of white wheat for delivery to China, sparking a bit of recovery trade from early weakness. Shorts that were put on yesterday covered in positions today. Higher canola values also supported beans and soyoil prices, with sharply higher oilshare a key feature of trade on the board. SOY The soy complex opened weaker but found new short-cove...
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...
