THE OPEN
Nov beans: 2 lower Dec meal: .90 lower Dec soyoil: 4 lower Dec corn: 4 3/4 lower Sep wheat: 3 1/4 lower
Prices opened as expected with further congestive trade around the July WASDE. Demand bears are stacked up against new crop supply bulls, and as a result the market is carving out trading ranges awaiting the next major direction. Bean charts offered the prospect for more upside, corn charts more downside heading into the data. July WASDE: Gist of report neutral for corn, bullish for beans and wheat. U.S. PRODUCTION (Million Bushels) 2019-20 Jul Avg Jun 2018-...
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...
