THE OPEN May beans: 2 lower May meal: 2.90 lower May soyoil: 8 higher May corn: 1 3/4 lower May wheat: 5 1/2 higher The markets opened as expected with more weakness arising in the soy complex while wheat prices rallied sharply. Traders were unwinding previous buy corn and bean/sell wheat trade, with the USDA outlook forum showing a slightly more constructive look to wheat plantings. The Outlook Forum pegged 21/22 corn prices at $4.20, beans at $11.25, and wheat at $5.50. Other statements were that the US may have to import beans to help ease tight domestic supplies, but further suggested import volumes would be limited on expected higher US soy acres. In the meantime, the record...
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...
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Accountability and a comprehensive approach to export programming
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