THE OPEN May beans: 3 lower March meal: 1.00 lower March soyoil: steady May corn: 2 lower May wheat: 3 lower Prices were lower today as the Outlook did not add anything of bullish value to trade. Moreover, the strong US dollar - at 3-year highs vs. the weaker Brazilian Real at 3-year lows - continues to impact beans. The spread is record wide and making US beans that much more expensive against Brazilian origin. The USDA projected Chinese purchases of US ags at $14 bln, which was much less than the estimated $36 bln China promised in the Phase One deal. Nonetheless, the agency said it expected China to begin to make purchases this spring. SOY
The soy complex...
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...
