THE OPEN May beans: 4 3/4 lower May meal: 2.10 lower May soyoil: 20 lower May corn: 4 1/4 lower May wheat: 12 lower The markets opened as expected with meal prices turning higher as traders booked profits on recent buy soyoil/sell meal trade. Wheat prices continued to sell-off in terms of technical chart points. Buy corn/sell wheat spread trade was a fan-favorite. Volumes remain low with holidays in China and Brazil. SOY
The soy complex traded mixed with traders taking profits on oilshare and meal rallying on the back of extreme cold temperatures. May crush trades up to 71c/bu while oilshare falls back under 35.0% to 34.90%. Higher palm oil initially lifted so...
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...
