World Perspectives

Livestock Recent Livestock Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Wow, Some Fun Information!

USDA’s much anticipated Prospective Plantings and Quarterly Stocks reports had few shockers, but they did shuffle the board a bit. First, the top line stuff: Corn Planted area was expected to drop due to higher input costs and lower prices, but USDA’s 90-million-acre number was at t...

livestock

Livestock Roundup: Hogs and Pigs Report Neutral with Bearish Undertones

Today, USDA released its quarterly Hogs and Pigs report for the December through February quarter. The total inventory of hogs and pigs on 1 March was 74.6 million head, which was 101 percent of March 2023 and the highest since 2020. That was slightly higher than pre-report expectations. Total...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.42/bushel, up $0.1525 from yesterday's close.  May 24 Wheat closed at $5.6025/bushel, up $0.1275 from yesterday's close.  May 24 Soybeans closed at $11.915/bushel, down $0.01 from yesterday's close.  May 24 Soymeal closed at $337.7/short ton, down $1.3 fr...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for period March 15-21, 2024. Wheat:  Net sales of 339,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 408,900 MT were up 3 percent from the previous week, but do...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close.  May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close.  May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close.  May 24 Soymeal closed at $339/short ton, down $0.8 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers

Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...

livestock

Duck Data

The USDA attache’s office in New Delhi reports that India issued revised import rules last month for premium duck meat. The tariff was reduced from 30 percent to 5 percent, and standards were announced for selling the meat to at least three-star hotels and restaurants approved by the gove...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Sinks on Risk-Off Trade; Cattle Futures Crash on HPAI Discovery

Reactions to news headlines dominated Tuesday’s commodity trade with markets selling off in defensive, risk-off price action. As is discussed in more detail below and in nearby pages, bearish news hit the markets from the overnight collapse of a bridge in Baltimore, Maryland that closed t...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.325/bushel, down $0.0525 from yesterday's close.  May 24 Wheat closed at $5.435/bushel, down $0.115 from yesterday's close.  May 24 Soybeans closed at $11.99/bushel, down $0.1025 from yesterday's close.  May 24 Soymeal closed at $339.8/short ton, down $1...

livestock

The Next Bull is a Cow

The market reacted bearishly to reports of HPAI in dairy cows in Texas and Kansas, implying concerns about a demand shock. USDA advised there is no risk to human health and the animals are recovering. Nonetheless, feeder cattle futures dropped $3-5 and live cattle prices dropped over $2/cwt. Cl...

livestock

February Cold Storage

The February Cold Storage report’s numbers reflect a significant drawdown in red meat and poultry stocks compared to one year ago. Total red meat and poultry inventories were down nearly 9 percent year-over-year, despite higher slaughter and meat production numbers for the month. The repo...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Leads CBOT with Vegoil Rally

The biggest moves in ag commodity futures are in the vegoil markets right now, with stronger Malaysian palm oil exports and drought threats pushing values higher. Last week, Malaysian palm oil scored new contract highs and helped CBOT soyoil rally, and similar trends developed in Monday’s...

feed-grains soy-oilseeds wheat

Market Commentary: Wow, Some Fun Information!

USDA’s much anticipated Prospective Plantings and Quarterly Stocks reports had few shockers, but they did shuffle the board a bit. First, the top line stuff: Corn Planted area was expected to drop due to higher input costs and lower prices, but USDA’s 90-million-acre number was at t...

livestock

Livestock Roundup: Hogs and Pigs Report Neutral with Bearish Undertones

Today, USDA released its quarterly Hogs and Pigs report for the December through February quarter. The total inventory of hogs and pigs on 1 March was 74.6 million head, which was 101 percent of March 2023 and the highest since 2020. That was slightly higher than pre-report expectations. Total...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.42/bushel, up $0.1525 from yesterday's close.  May 24 Wheat closed at $5.6025/bushel, up $0.1275 from yesterday's close.  May 24 Soybeans closed at $11.915/bushel, down $0.01 from yesterday's close.  May 24 Soymeal closed at $337.7/short ton, down $1.3 fr...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for period March 15-21, 2024. Wheat:  Net sales of 339,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 408,900 MT were up 3 percent from the previous week, but do...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close.  May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close.  May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close.  May 24 Soymeal closed at $339/short ton, down $0.8 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers

Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...

livestock

Duck Data

The USDA attache’s office in New Delhi reports that India issued revised import rules last month for premium duck meat. The tariff was reduced from 30 percent to 5 percent, and standards were announced for selling the meat to at least three-star hotels and restaurants approved by the gove...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Sinks on Risk-Off Trade; Cattle Futures Crash on HPAI Discovery

Reactions to news headlines dominated Tuesday’s commodity trade with markets selling off in defensive, risk-off price action. As is discussed in more detail below and in nearby pages, bearish news hit the markets from the overnight collapse of a bridge in Baltimore, Maryland that closed t...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.325/bushel, down $0.0525 from yesterday's close.  May 24 Wheat closed at $5.435/bushel, down $0.115 from yesterday's close.  May 24 Soybeans closed at $11.99/bushel, down $0.1025 from yesterday's close.  May 24 Soymeal closed at $339.8/short ton, down $1...

livestock

The Next Bull is a Cow

The market reacted bearishly to reports of HPAI in dairy cows in Texas and Kansas, implying concerns about a demand shock. USDA advised there is no risk to human health and the animals are recovering. Nonetheless, feeder cattle futures dropped $3-5 and live cattle prices dropped over $2/cwt. Cl...

livestock

February Cold Storage

The February Cold Storage report’s numbers reflect a significant drawdown in red meat and poultry stocks compared to one year ago. Total red meat and poultry inventories were down nearly 9 percent year-over-year, despite higher slaughter and meat production numbers for the month. The repo...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Leads CBOT with Vegoil Rally

The biggest moves in ag commodity futures are in the vegoil markets right now, with stronger Malaysian palm oil exports and drought threats pushing values higher. Last week, Malaysian palm oil scored new contract highs and helped CBOT soyoil rally, and similar trends developed in Monday’s...

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