JULY WASDE Yield: unchanged for corn, and slightly lower for beans bean yield: 48.5 bpa, generally as expected, maybe a bit higher corn yield: 166.0 bpa - neutral production: 19/20 13.875 bln bu vs. 13.68 bln bu in June Reaction to the report is bearish for corn once again and neutral for beans, but this time there was more support for corn which turned mixed as well following a bean rally. Report reaction was friendly for wheat. Buy wheat/sell corn and buy bean/sell corn trade was noted post release as quick trends. More later but overall feels like report keeps us in current trading ranges to see how weather / trade negotiations impact price as larger catalysts for trade to take us out of familiar...
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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