World Perspectives

Livestock Recent Livestock Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Ag Markets Bounce, Pullback as Omicron Detected in U.S.

The CBOT started the day higher with corn and the soy complex leading the way after “buy on the bounce” and “risk on” trade developed overnight and in the early morning. Confirmation from the EU that Omicron coronavirus cases present with relatively mild symptoms and a l...

livestock

AI Impact

As the media tracks the spread of the Omicron version of COVID, there are reports of additional outbreaks of highly pathogenic avian influenza (H5N1) in Europe. Like COVID, there are many varieties of avian influenza (AI) with low pathogenic the predominant form but high pathogenic forms consti...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.715/bushel, up $0.04 from yesterday's close.  Mar 22 Wheat closed at $7.905/bushel, up $0.0325 from yesterday's close.  Jan 22 Soybeans closed at $12.2825/bushel, up $0.11 from yesterday's close.  Jan 22 Soymeal closed at $349.1/short ton, up $7.3 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: COVID Tanks Markets (again)

“… [covid’s] always on my mind, [covid’s] always on my mind.” With apologies to Willie Nelson, that was the tune markets were singing Tuesday. After a brief pause yesterday, crude oil, stocks, currencies, and commodities all continued Friday’s risk-off and l...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.675/bushel, down $0.1475 from yesterday's close.  Mar 22 Wheat closed at $7.8725/bushel, down $0.35 from yesterday's close.  Jan 22 Soybeans closed at $12.1725/bushel, down $0.2425 from yesterday's close.  Jan 22 Soymeal closed at $341.8/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Ag Markets Weaker on Limited News, Strong U.S. Dollar, and Technical Selling

The CBOT was generally weaker to start the week with heavy overnight trade pushing wheat and soybeans higher while corn was lower. Today was the last trading day before first notice day on the 30 November and traders were actively exiting December positions. Given the general length in the CBOT...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

feed-grains soy-oilseeds wheat

Summary of Futures

 Dec 21 Corn closed at $5.81/bushel, down $0.0575 from yesterday's close.  Mar 22 Wheat closed at $8.2225/bushel, down $0.18 from yesterday's close.  Jan 22 Soybeans closed at $12.415/bushel, down $0.1125 from yesterday's close.  Jan 22 Soymeal closed at $342.7/short ton, do...

livestock

Poultry Politics

Inflation is worrisome to the public and so politicians feel compelled to deflect any blame from themselves. Thus, President Biden called for an FTC investigation of oil companies for rising gasoline prices even as his Administration has frozen certain federal lands from exploration and has rai...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.8675/bushel, up $0.07 from yesterday's close.  Mar 22 Wheat closed at $8.4025/bushel, down $0.1 from yesterday's close.  Jan 22 Soybeans closed at $12.5275/bushel, down $0.1375 from yesterday's close.  Jan 22 Soymeal closed at $349.4/short ton, down $1.5...

feed-grains soy-oilseeds wheat

Market Commentary: COVID-19 News Craters Markets; Corn, Wheat, and Cattle Show Strength Amid Selling

Once again, coronavirus dominated the market’s psychology and action after the WHO identified the new southern Africa strain as a “variant of concern” due to increased risk of reinfection. U.S. stock futures opened sharply lower when overnight trading began, with the Dow futur...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7975/bushel, down $0.0075 from yesterday's close.  Mar 22 Wheat closed at $8.5025/bushel, down $0.1725 from yesterday's close.  Jan 22 Soybeans closed at $12.665/bushel, down $0.065 from yesterday's close.  Jan 22 Soymeal closed at $350.9/short ton, down...

feed-grains soy-oilseeds wheat

Market Commentary: Cattle Extend Rally; Wheat Posts Reversal; Corn Fails at Key Resistance Level

The CBOT was higher overnight with continued worries about world wheat supplies and weather driving the markets. Wheat futures continued their upside run in early day trading and posted new contract highs before profit taking pushed the market lower and formed technical reversals on the charts...

livestock

China Does it Again

Tomorrow is “turkey-day” in the U.S. but today the story is beef. Prices are up nearly 30 percent and while the cattle cycle is part of the story, there is little doubt that China is a major contributing factor. While beef imports by the rest of the world are little changed over the...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Feed Demand Slows in Q4  Data from the surveys of China’s Ministry of Agriculture and Rural Affairs (MARA) Affairs and the China Feed Industry Association show feed output for October at 25.2 MMT. That represents a .2 percent increase from a year ago but a month-on-month de...

feed-grains soy-oilseeds wheat

Market Commentary: New Highs in Wheat and Cattle; Soymeal Crashes; Oil Rallies as Biden Increases Supply

CBOT futures were mixed on Tuesday with wheat once again leading the way higher with new contract highs, corn following, and the soy complex ending mixed. Persistent rain in the forecast for Australia, combined with logistics issues from Canadian flooding and drought in the Black Sea and U.S. P...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.805/bushel, up $0.0375 from yesterday's close.  Mar 22 Wheat closed at $8.675/bushel, up $0.1 from yesterday's close.  Jan 22 Soybeans closed at $12.73/bushel, down $0.0125 from yesterday's close.  Dec 21 Soymeal closed at $362.2/short ton, down $7.8 from...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads CBOT Rally; Cattle Higher After Neutral On Feed Report

CBOT futures were higher to start the week with wheat leading the rally. Drought in the U.S. Plains, too much rain in eastern Australia, and geopolitical concerns in the Black Sea all combined to drive Paris, Australian, CBOT and KCBT wheat futures to new contract highs. Corn was pulled higher...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7675/bushel, up $0.06 from yesterday's close.  Dec 21 Wheat closed at $8.4575/bushel, up $0.2275 from yesterday's close.  Jan 22 Soybeans closed at $12.7425/bushel, up $0.11 from yesterday's close.  Dec 21 Soymeal closed at $370/short ton, down $1.8 from...

livestock

Cattle on Feed

U.S. Cattle on Feed, in feedlots with capacity of 1,000 or more head, totaled 11.9 million head on November 1, 2021. The inventory was slightly below November 1, 2020. Placements in feedlots during October totaled 2.25 million head, 2 percent above 2020.  Marketings of fed cattle duri...

feed-grains livestock soy-oilseeds

Market Commentary: Weak Energies Weigh on Soy Complex; Wheat Ignores Bearish Technicals

Continued declines in energy markets pressured the CBOT on Friday and reduced fund buying interest. Soyoil futures fell lower and to near trading range support on weaker energy markets and pulled soybeans lower as well. Wheat futures were higher as traders pointed to strong demand as reason to...

livestock

Neutral Cattle on Feed Report

USDA released its monthly cattle on feed report today showing a total inventory of cattle and calves in feed yards of 11.9 million head on 1 November, which is slightly (25,000 head) below last year.  All categories were well aligned with the pre-report expectations - another sign that ca...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7075/bushel, down $0.0225 from yesterday's close.  Dec 21 Wheat closed at $8.23/bushel, up $0.03 from yesterday's close.  Jan 22 Soybeans closed at $12.6325/bushel, down $0.02 from yesterday's close.  Dec 21 Soymeal closed at $371.8/short ton, up $1.4 fro...

feed-grains soy-oilseeds wheat

Market Commentary: Record Gains, Then Losses

It was a strange trading day with twists and turns that were at a minimum, unusual: Grains and oilseeds all closed higher overnight and then continued that trend in this morning’s open, with wheat again leading with double-digit higher gains.  There were new contract highs in SRW...

feed-grains soy-oilseeds wheat

Market Commentary: Ag Markets Bounce, Pullback as Omicron Detected in U.S.

The CBOT started the day higher with corn and the soy complex leading the way after “buy on the bounce” and “risk on” trade developed overnight and in the early morning. Confirmation from the EU that Omicron coronavirus cases present with relatively mild symptoms and a l...

livestock

AI Impact

As the media tracks the spread of the Omicron version of COVID, there are reports of additional outbreaks of highly pathogenic avian influenza (H5N1) in Europe. Like COVID, there are many varieties of avian influenza (AI) with low pathogenic the predominant form but high pathogenic forms consti...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.715/bushel, up $0.04 from yesterday's close.  Mar 22 Wheat closed at $7.905/bushel, up $0.0325 from yesterday's close.  Jan 22 Soybeans closed at $12.2825/bushel, up $0.11 from yesterday's close.  Jan 22 Soymeal closed at $349.1/short ton, up $7.3 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: COVID Tanks Markets (again)

“… [covid’s] always on my mind, [covid’s] always on my mind.” With apologies to Willie Nelson, that was the tune markets were singing Tuesday. After a brief pause yesterday, crude oil, stocks, currencies, and commodities all continued Friday’s risk-off and l...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.675/bushel, down $0.1475 from yesterday's close.  Mar 22 Wheat closed at $7.8725/bushel, down $0.35 from yesterday's close.  Jan 22 Soybeans closed at $12.1725/bushel, down $0.2425 from yesterday's close.  Jan 22 Soymeal closed at $341.8/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Ag Markets Weaker on Limited News, Strong U.S. Dollar, and Technical Selling

The CBOT was generally weaker to start the week with heavy overnight trade pushing wheat and soybeans higher while corn was lower. Today was the last trading day before first notice day on the 30 November and traders were actively exiting December positions. Given the general length in the CBOT...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

feed-grains soy-oilseeds wheat

Summary of Futures

 Dec 21 Corn closed at $5.81/bushel, down $0.0575 from yesterday's close.  Mar 22 Wheat closed at $8.2225/bushel, down $0.18 from yesterday's close.  Jan 22 Soybeans closed at $12.415/bushel, down $0.1125 from yesterday's close.  Jan 22 Soymeal closed at $342.7/short ton, do...

livestock

Poultry Politics

Inflation is worrisome to the public and so politicians feel compelled to deflect any blame from themselves. Thus, President Biden called for an FTC investigation of oil companies for rising gasoline prices even as his Administration has frozen certain federal lands from exploration and has rai...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.8675/bushel, up $0.07 from yesterday's close.  Mar 22 Wheat closed at $8.4025/bushel, down $0.1 from yesterday's close.  Jan 22 Soybeans closed at $12.5275/bushel, down $0.1375 from yesterday's close.  Jan 22 Soymeal closed at $349.4/short ton, down $1.5...

feed-grains soy-oilseeds wheat

Market Commentary: COVID-19 News Craters Markets; Corn, Wheat, and Cattle Show Strength Amid Selling

Once again, coronavirus dominated the market’s psychology and action after the WHO identified the new southern Africa strain as a “variant of concern” due to increased risk of reinfection. U.S. stock futures opened sharply lower when overnight trading began, with the Dow futur...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7975/bushel, down $0.0075 from yesterday's close.  Mar 22 Wheat closed at $8.5025/bushel, down $0.1725 from yesterday's close.  Jan 22 Soybeans closed at $12.665/bushel, down $0.065 from yesterday's close.  Jan 22 Soymeal closed at $350.9/short ton, down...

feed-grains soy-oilseeds wheat

Market Commentary: Cattle Extend Rally; Wheat Posts Reversal; Corn Fails at Key Resistance Level

The CBOT was higher overnight with continued worries about world wheat supplies and weather driving the markets. Wheat futures continued their upside run in early day trading and posted new contract highs before profit taking pushed the market lower and formed technical reversals on the charts...

livestock

China Does it Again

Tomorrow is “turkey-day” in the U.S. but today the story is beef. Prices are up nearly 30 percent and while the cattle cycle is part of the story, there is little doubt that China is a major contributing factor. While beef imports by the rest of the world are little changed over the...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Feed Demand Slows in Q4  Data from the surveys of China’s Ministry of Agriculture and Rural Affairs (MARA) Affairs and the China Feed Industry Association show feed output for October at 25.2 MMT. That represents a .2 percent increase from a year ago but a month-on-month de...

feed-grains soy-oilseeds wheat

Market Commentary: New Highs in Wheat and Cattle; Soymeal Crashes; Oil Rallies as Biden Increases Supply

CBOT futures were mixed on Tuesday with wheat once again leading the way higher with new contract highs, corn following, and the soy complex ending mixed. Persistent rain in the forecast for Australia, combined with logistics issues from Canadian flooding and drought in the Black Sea and U.S. P...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.805/bushel, up $0.0375 from yesterday's close.  Mar 22 Wheat closed at $8.675/bushel, up $0.1 from yesterday's close.  Jan 22 Soybeans closed at $12.73/bushel, down $0.0125 from yesterday's close.  Dec 21 Soymeal closed at $362.2/short ton, down $7.8 from...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads CBOT Rally; Cattle Higher After Neutral On Feed Report

CBOT futures were higher to start the week with wheat leading the rally. Drought in the U.S. Plains, too much rain in eastern Australia, and geopolitical concerns in the Black Sea all combined to drive Paris, Australian, CBOT and KCBT wheat futures to new contract highs. Corn was pulled higher...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7675/bushel, up $0.06 from yesterday's close.  Dec 21 Wheat closed at $8.4575/bushel, up $0.2275 from yesterday's close.  Jan 22 Soybeans closed at $12.7425/bushel, up $0.11 from yesterday's close.  Dec 21 Soymeal closed at $370/short ton, down $1.8 from...

livestock

Cattle on Feed

U.S. Cattle on Feed, in feedlots with capacity of 1,000 or more head, totaled 11.9 million head on November 1, 2021. The inventory was slightly below November 1, 2020. Placements in feedlots during October totaled 2.25 million head, 2 percent above 2020.  Marketings of fed cattle duri...

feed-grains livestock soy-oilseeds

Market Commentary: Weak Energies Weigh on Soy Complex; Wheat Ignores Bearish Technicals

Continued declines in energy markets pressured the CBOT on Friday and reduced fund buying interest. Soyoil futures fell lower and to near trading range support on weaker energy markets and pulled soybeans lower as well. Wheat futures were higher as traders pointed to strong demand as reason to...

livestock

Neutral Cattle on Feed Report

USDA released its monthly cattle on feed report today showing a total inventory of cattle and calves in feed yards of 11.9 million head on 1 November, which is slightly (25,000 head) below last year.  All categories were well aligned with the pre-report expectations - another sign that ca...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.7075/bushel, down $0.0225 from yesterday's close.  Dec 21 Wheat closed at $8.23/bushel, up $0.03 from yesterday's close.  Jan 22 Soybeans closed at $12.6325/bushel, down $0.02 from yesterday's close.  Dec 21 Soymeal closed at $371.8/short ton, up $1.4 fro...

feed-grains soy-oilseeds wheat

Market Commentary: Record Gains, Then Losses

It was a strange trading day with twists and turns that were at a minimum, unusual: Grains and oilseeds all closed higher overnight and then continued that trend in this morning’s open, with wheat again leading with double-digit higher gains.  There were new contract highs in SRW...

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