THE OPEN January beans: 12 12 higher Dec meal: 2.00 higher Dec soyoil: 58 higher Dec corn: 3 higher Dec wheat: 4 higher The markets opened firmer and continued to tack on gains as higher macros helped to create an across-the-board day of buying and short-covering. Crude was higher with a continuing weaker US dollar. Buy soyoil/sell meal, and buy beans/sell wheat trade were fan favorites. SOY
The major feature in the soy complex was that of higher bean trade, with oilshare prices firming on the open. December meal prices slip back towards key support at $375.00, making the chart more vulnerable to a further sell-off. Oilshare rebounds sharply as traders...
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...