The chatter surrounding the markets today was interesting. The bullish stories discussed the shrinking wheat and feed grain crops in the EU, and that included the near panic buying by EU feed manufacturers. USDA pegged the EU wheat crop at 145 MMT in its recent report, but some are now talking about a sub-140 MMT crop. Other bullish talk was (again) about reduced yield expectations in Russia coupled with the potential for quality losses. Perhaps Russia’s explosion of cheap wheat exports is about to take at least a temporary hiatus. Canada’s crop might also be getting smaller. The map below shows the deviation from normal precipitation across western Canada for the 90 days that ended 16 July. It does take some rain to make grain,...
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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