THE OPEN Nov beans: 12 higher Dec meal: 5.00 higher Dec soyoil: 2 higher Dec corn: 6 higher Sep wheat: 1/2 lower The markets opened strongly as called except for wheat, which has become the sell leg of inter-market spreads. Oilshare struggled as traders booked profits. Bean and meal prices strengthened throughout the day remaining well bid. Corn saw more short-covering activity, along with a few bargain-hunters. SOY
The feature in the soy complex was that of weaker oilshare as firmer meal prices dominated trade space. October crush traded to 95.58c/bu while oilshare values sold off further to 34.62%. Profit-taking was noted in Dec. soyoil as prices climbed once aga...
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...