Good morning! An hour after the opening bell in Chicago, January soybeans are up 20 cents and above moving average-resistance after Presidents Trump and Xi reportedly had talks on trade and North Korea. President Trump tweeted that he and President Xi had a “very good conversation” that included several subjects with “a heavy emphasis on trade”. The market opened higher after this week’s Export Sales report featured larger-than-expected soybean shipments, even though sales and YTD exports remain in bearish territory. Traders pushed January soybeans to nearly 20-cent gains before selling at the 100-day moving average pushed the market lower.
WPI has mentioned several times that China holds the we...
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...
