THE OPEN July beans: 7 higher July meal: .30 higher July soyil: 84 higher July corn: 9 1/2 higher July wheat: 6 3/4 higher The markets opened as expected with prices turning higher led by July corn as the sale of corn to China supported bullspreads. Soyoil posts a new contract high from the start of the trading session. Bean bullspreads caved after the start of the day taking July beans for a mixed ride from a higher start to lower on the day. Oilshare found some midday profit-taking. SOY
The soy complex entered into a choppy day of trade as bullspreads weakened, breaking July beans back to the lower end of recent support levels and eventually into new lows when sell-stop...
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...
