THE OPEN
March beans: steady March meal: .40 lower March soyoil: 33 higher March corn: 1/2 lower March wheat: 1/2 higher
The markets opened as called but bears obviously took the market’s setback as an opportunity to cover something before the 15 February date which could find China in a buying mode. The likely source of the rally, however, was higher outside markets, where commodities and stocks were putting in a good rally on the back of easing Coronavirus fears. The rally was a bit of a surprise to most traders, particularly after the muted reaction which followed the February report. SOY The soybean market traded higher after the open as prices once again walked back support to see if $8.80 March was a key suppor...
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...
