THE OPEN November beans: 8 higher December meal: 3.90 higher December soyoil: 9 lower December corn: 7 higher December wheat: 3 3/4 higher Prices opened as called on a firm note, with more short-covering in corn and new buying in beans a major feature of trade. The lack of rainfall for the moment and the lower ratings are forcing more fund shorts out of corn. The Chinese business announcements and lower ratings set the stage for a technically driven rally with momentum trades turning higher as early pullbacks in the session held for each market. SOY
The soy complex opened in firm trade with soyoil futures opening lower, but turning higher as beans and meal rallied. The co...
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...