In truth, there is not much to analyze in USDA’s December WASDE. It contained no changes in estimated U.S. yields or corn and soybean production levels. Those will come as the final such estimates in the January WASDE. However, there were some changes in production estimates for other countries and the world as a whole along with numerous, albeit generally small, revisions to U.S. and world supply/demand estimates.
If there is a theme to this month’s WASDE, it is one of slightly higher ending stocks for both the world and the U.S. with the exception of the latter’s soybeans. Consider the following: - Estimated U.S. corn stocks of 1.781 billion bushels are up 45 million bushels, the net of a 50-million-bushel reduction...
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...
