THE OPEN:
Nov beans: 2 1/2 lower Dec meal: .50 lower Dec soyoil: 20 lower Dec corn: 2 lower Dec wheat: 3 1/4 higher
The markets opened as called, which was mostly weaker (except for wheat). Selling was noted for the soy complex out of the starting gate, with more buy grains/sell soy spread trade. Oilshare and the crush worked their way lower. By the middle of the day it was clear that bears were going to win the battle with most of the markets, except wheat, trending weaker. SOY The soy complex worked lower today as the sell side of a buy grains/sell soy spread trade. Better rains are now forecast next week for Brazil, and plantings in the major producing-state of Mato Grosso can begin. Weaker currencies are giving Brazilian far...
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...