THE OPEN March beans: 1 1/2 higher March meal: .50 lower March soyoil: 33 higher March corn: 1 14 higher March wheat: 9 higher The markets opened as called but beans turned two-sided with short-covering drying up on the back of poor export sales and good growing weather in South America. Oilshare continued its upward path as meal prices took out recent lows that triggered sell-stops. Sharply higher wheat helped corn to find a bid in order to trade back towards the highest end of the range, where more hedge pressure was noted. SOY
The major feature in the soy complex was that of a continuation of higher soyoil and oilshare prices. Bean prices, which had been responding to higher soyo...
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...
