THE OPEN Nov beans: 4 higher Dec meal: 1.20 higher Dec soyoil: 3 higher Dec corn: 3/4 lower Dec wheat: 7 1/2 higher The markets opened as called with funds selling corn pushing values into sell-stops on a disappointing export sales report and the lack of a meaningful frost. Price action stumbled lower in corn after it became the sell side of spread activity. Minneapolis wheat finally corrected lower after posting new highs for the move upward. Products were adjusting as we move into first notice day for October contracts. In terms of announcements, International Grains Council (IGC) lowered world bean production by 2 mmt to 342 mmt. SOY
The soy...
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...