THE OPEN July beans: 4 3/4 higher July meal: .20 higher July soyoil: 23 higher July corn: 3/4 lower July wheat: 5 1/2 lower Prices opened as expected but the charts were suggestive of a corrective price rally, particularly for beans, which transpired after the open. Meal prices rebounded off their lows on the sharp rally in beans, with oilshare finding some resistance at current highs. Beans continued to lead the rally for most of the day, as spreads strengthened as well. Corn followed with buy-stops triggered over highs set this week, as end -of-month short-covering set the table for possible trading ranges from the lows. SOY
Prices opened on a fairly tentative note, but a tame open...
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...
