Traders holding short soybean positions before tomorrow’s USDA WASDE report should not be overly concerned by today’s bullish price action.Comparing the following factors, today’s higher price action should not be too intimidating for anyone holding a short soybean position before tomorrow’s USDA report.Potentially Bullish Factors While Conab’s estimate of Brazilian production (scheduled to be released tomorrow) could be conservative, that possibility seems already anticipated by market participants. Brazil will receive more heavy rains later in the week, but soybeans (particularly in sandy soils) are not allergic to water. Prolonged and persistent saturation is necessary to truly damage production, and leaves dropping is not an indicator...
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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