A few trades of Bulgarian feed wheat were reported last week at €159/MT ($182/MT) FOB. After one particular development, though, the market is offered at €157/MT without close buying interest. Milling Wheat The Black Sea market has turned weaker for the first time in more than two months following the collapse of the U.S. and the Paris wheat futures last week. The harvest in Russia is still significantly behind last year’s pace due to the persistent rains, and the weather forecast for the next 10 days is mixed. While the harvest will proceed at full speed in some southern regions there, the rains will continue interrupting it elsewhere. The Russian crop is estimated at 72-73 MMT or similar to last year, but the carry in stocks are estimat...
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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