As spring crop ratings plunged again last week and hard red winter wheat protein levels continue to be a concern, issues with wheat production outside of North America are also worsening.
As noted in the most recent crop progress report (see Ag Perspectives, 19 June), spring wheat crop ratings plunged again last week. They should decline again in next Monday’s report after another week with no rain across most of the northern Plains. The only good news was that temperatures were much cooler this week. The driest parts of southern Canada also stayed dry, including the primary durum production region. Yields are falling, but protein content should be high because of the drought stress. The chart below shows the current spring wheat ratings...
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...
