There hasn’t been any positive or bullish news around the wheat markets for a very long time. Despite what appears to be overwhelmingly bearish U.S. and world wheat ending supply estimates, however, there are some developments that should be watched.There hasn’t been any positive or bullish news around the wheat markets for a very long time. Funds continue to carry a large short position in the Chicago wheat market, and there has been no incentive to exit with a huge U.S. winter wheat crop as well as no serious weather threat in the U.S. corn and soybean markets. In fact, the funds have completely reversed their long corn position over the past two weeks and are now reportedly short a small amount. That position change started after the Fou...
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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