THE OPEN
March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher
Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the announcement of a still lower wheat crop from Australia and higher values from the EU. Meal prices started the day lower but found good commercial pricing activity and short-covering courtesy of a near record short position. Oilshare was steady as soyoil held key lows for the first part of the day, and beans came back to trade both sides of unchanged. Wet weather in the US continues to factor into a positive trade as...
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...
