Market chatter has been somewhat obsessed since last winter with the potential El Nino/La Nina shift and the potential ramifications this might have for crop production.USDA’s 10 June reports were bullish soybeans, neutral to slightly friendly to corn and bearish on wheat. World and U.S. soybean ending supplies will be far smaller than predicted just three-four months ago. Demand has also been stronger than expected. It seems everyone continues to underestimate China’s appetite for soybeans. Repeated talk of economic slowdowns, poor Purchasing Manager’ Indexes (PMIs), auctioning of reserve corn and soybean supplies, rumors of sales cancellations, etc. have simply been wrong for years, not just in 2016.U.S. 2016/17 soybean ending supplies 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...
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