THE OPEN March beans: 1 lower March meal: .20 lower March soyoil: 35 lower March corn: 1/2 lower March wheat: 1/2 lower Futures opened lower as expected but corn turned both sides of even, as traders continued to buy corn/sell wheat and beans. Meal put in new contract lows, and soyoil / beans traded into further weakness as well. Prices remained pressured for much of the day except for corn, where short-covering was noted as exports pick up and funds remain net short. SOY
Futures in the soy complex opened lower with March soyoil triggering another round of sell -stops under the 200-day moving average of 3040c to trade close to the 30c benchmark. Traders returned to...
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...
