THE OPEN Jan beans: 11 higher Dec meal: 2.90 higher Dec soyoi: 61 higher Dec corn: 2 3/4 higher Dec wheat: 2 1/2 higher The markets opened higher with beans and soyoil place new contract highs. Oilshare is higher as well as traders buy soyoil/sell meal. Buy beans/sell wheat trade continues as a fan favorite trade as stocks-to-use ratio remains tight for the first and generous for the latter. Upward pressure continues in beans as they head into ration mode as exports will draw-down stocks. Beans and soyoil prices are also extremely overbought, suggesting that a pullback is needed to clean house at some point. SOY
The open continued to accelerate Jan beans to new contract h...
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...
