World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: CBOT Steady/Higher Ahead of WASDE; Hog Selloff Intensifies

Wednesday’s CBOT trade was almost entirely focused on positioning for the January WASDE that will be released at noon Thursday. For corn and soybeans, that meant cautiously higher trade with the markets following through on Tuesday’s late-day rallies. The soybean rally came despite weaker soyoil values that were pressured by spread trade and fund liquidation. Wheat, on the other hand, rallied in a notable round of short-covering after the markets plunged to new selloff lows yesterday. Other than the acreage outlook for the 2023/24 U.S. winter wheat crop, wheat traders will be focused on the WASDE’s adjustments to international balance sheets, with the most bullish expectations being for Argentina. Funds were net buyers for...

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livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly cattle on feed report for March will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.3 percent of last year. Those estimates imply an on-feed inventory of 11.5 million head. The pre-report estimates were spl...

feed-grains soy-oilseeds wheat

Summary of Futures

Please see the attached summary sheet - page one: ...

feed-grains soy-oilseeds wheat

Market Commentary: Macro Pressure and Energy Strength Lift Grain Markets

Key Market Developments Macro: Reinforcing a Higher-for-Longer Environment Today’s inflation data reinforced what markets were already beginning to price in: a more persistent, “higher for longer” rate environment. U.S. producer prices came in above expectations, with headline...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly cattle on feed report for March will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.3 percent of last year. Those estimates imply an on-feed inventory of 11.5 million head. The pre-report estimates were spl...

feed-grains soy-oilseeds wheat

Summary of Futures

Please see the attached summary sheet - page one: ...

feed-grains soy-oilseeds wheat

Market Commentary: Macro Pressure and Energy Strength Lift Grain Markets

Key Market Developments Macro: Reinforcing a Higher-for-Longer Environment Today’s inflation data reinforced what markets were already beginning to price in: a more persistent, “higher for longer” rate environment. U.S. producer prices came in above expectations, with headline...

Great Timing; Farm Skeptics; War’s Impact; Thursday’s Tumults

Great Timing The workers’ union at the JBS meatpacking plant in Greeley, Colorado, is on strike. The union is demanding more pay for its members, of course, and they want the company to pay for gloves. Given the shortage of cattle, there is overcapacity in cattle slaughter, and JBS has be...

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From WPI Consulting

Accountability and a comprehensive approach to export programming

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