China and weather are the topics that have dominated market chatter for the last several weeks, but they have not generated a breakout movement of grain and soy futures prices. Talk about a U.S.-China trade agreement has been going on for months, long enough to become tiresome. Both sides speak optimistically about the progress being made, and they predict one will be finalized soon. After so much time, though, such talk no longer moves prices. Traders have adopted a “show me” attitude. However, if China’s agricultural purchase commitments under such a deal are as big as rumored, the final agreement will almost certainly become a market mover. Abundant wet weather, including a few bizarre spring blizzards, has stymied pla...
Accountability and a comprehensive approach to export programming
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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...