THE OPEN
Nov beans: 3 ½ lower Dec meal: 0.10 lower Dec soyoil: 22 lower Dec corn: steady Dec wheat: 1 ½ lower
The markets started on a tentative note but firmed shortly after the open as corn bears covered on lower prices with buying noted across the board (except for soyoil). Wheat found support from the snowstorm that is due to arrive this week. Beans found support from the potential for this storm to bring an end to the beans maturing in the Dakotas and Nebraska. Oilshare corrected from the highs this week as traders bought soymeal/sold soyoil on the cold snap forecast later in the week. The day’s theme was short covering, even as macro headlines were more pessimistic in terms of a trade deal. In terms...
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...