Global wheat ending stocks have been persistently falling now for five years. Ordinarily, price and carryover supplies move inversely but the price of wheat has been dropping for four straight years along with the availability of wheat.
The same is true more recently. Forecasts in recent weeks for wheat production in the Black Sea region and in the EU have been dropping. It has been too wet in the west and too dry in the east. Yet the trend in the price of wheat is to the downside.
This parallel change in supply and price creates the potential for a volatile reaction in the future. ...
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...