The awaited reports on 2018 quarterly stocks and winter wheat acreage along with the January 2018 WASDE have come and gone. Given the broad spectrum of data presented, they have a bit of history in terms of generating market-moving surprises. On balance, though, last Friday’s release seemed to be about as unsurprising as such a wide array of data on a variety of subjects could be. This is not to say that the reports turned out to be exactly what the market expected. USDA’s estimated total winter wheat planted acreage was 32.6 million acres, lower than last year’s final number. While that was only 100,000 acres less, the trade’s average guess was more than 1 million acres below USDA’s estimate. In the wheat cla...
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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Accountability and a comprehensive approach to export programming
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