THE OPEN March beans: 3 1/2 lower March meal: .40 lower March soyoil: .24 lower March corn: 5 lower March wheat: 8 1/4 lower The markets opened lower with fund selling in each market, namely profit-taking in soyoil and wheat, and what is probably new short positions in beans. Funds added to corn shorts, and more meal pricing took place on fund selling as well. China's lack of clarification on a time line and comments that suggested they will purchase when market conditions were right weighed on price action. Volumes were bigger today as old bulls liquidated and new bears came into the marketplace. SOY
The major feature in the soy complex was that of fresh selling in...
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...
