Even though it didn't seem like there was much of any weather premium in the market before this week's rainfall, the speculative trade evidently felt there was.This was another bad week for the U.S. wheat market. By some accounts, it might have been one of the worst in several years. Kansas City wheat futures dropped to their lowest levels since 2010. Depending on the class of wheat, prices were down another 35-50 cents. There were several reasons for this week's poor performance:
It finally rained across the driest western portions of the U.S. hard red winter wheat region with a chance for more precipitation in the days ahead. The rains do not appear to be as widespread as forecast. Some areas didn't see any, while others received up to...
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...
