February cattle on feed at multiyear high

As of Feb. 1, U.S. cattle on feed totaled just over 12.1 million head, the second highest February total since reporting began in 1996. Inventory was up 1 percent from January and up about 1 percent YOY, slightly above industry expectations. The high number [...]

Corn futures consolidate ahead of USDA report

Corn prices traded in a relatively narrow range of about $0.10 per bushel last week. Traders were also positioning ahead of what is expected to be a fairly bullish WASDE report tomorrow as the market foresees the potential for additional declines to ending stocks [...]

Corn rally continues

Typically, this time of year we see pressure on corn prices and seasonal lows from late August into early September. This has been especially true over the last four years. This year, we are seeing an August rally fueled by uncertainty over production, drier [...]

Wheat futures market inverts post-WASDE release

On Thursday, Jul. 11, Jul-19 wheat futures rose 4.8 percent to a six-week high of $5.36 following the June WASDE release. This price is higher than both the Sep-19 and Dec-19 futures contracts, at $5.21 and $5.32, respectively. Jul-19 contract prices rose in reaction [...]

Strong corn demand continues as massive crop gets harvested

Lower corn prices continue attracting demand, with exports starting the year on a strong note. Demand from the other major use sectors also remains higher than prior years. However, the crop harvest should help pressure prices even in the face of this robust demand. [...]

Corn acreage could increase next year if the trade dispute continues

Tariffs between the U.S. and China have caused soybean prices to fall relative to corn prices. This depreciation brought down the U.S. soybean-corn ratio, which is currently at levels not seen since 2012. If the trade dispute is not resolved by the time farmers [...]