This seemed to be the week that many wanted to talk about how much more corn and less soybeans farmers will plant in 2019 because of the drop in soybean prices and lack of any resolution to the U.S./China trade issues. Guesses ranged from a swap as little as 2 million acres to one as high as 5-6 million acres. There are several problems with throwing out random acreage guesses this early, though, including the following:
The 2018 corn and soybean harvests are not even finished yet. The 2019 planting season is still six to seven months away. Growing seasons in Argentina and Brazil have barely started. Farmers are making money growing soybeans even at today’s prices because yields have been so good. Planting costs for soybeans ar...
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...
