USDA’s Cattle on Feed Report estimates there were 11.958 head of cattle in feedlots on Jan. 1 –a mere 10,000 head more than the average pre-report estimate implied. Feedlots placed 3.5% m...
Corn: Corn futures finished high-range with gains of 2-plus cents. March futures gained 2 1/2 cents today but slipped 3/4 cent for the week. December futures firmed 2 3/4 cents today and ...
The week concluded with an abundance of USDA reports, and as is often the case with this massive data release, there were some surprises… notably higher U.S. production estimates for both...
Market reaction
 
Ahead of USDAs reports, corn futures were trading around 3 cents lower, soybeans were around 2 cents lower, winter wheat futures were 1 to 2 cents lower,...
But today’s update includes “significant” unharvested area and is subject to revision “later this spring.” This is an important caveat that means the verdict is still out on crop size. Fo...
The data was for the week ending Jan. 2, when holiday downtime likely came into play. Soybean sales were also on the light side and down 59% from the prior four-week average.
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