What You Need to Know Today:
Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facility and its Eagle Mountain, Utah, case-ready plant. The company also plans to pursue the sale of its Pasco, Washington, facility. Two oil tankers owned by the UAE’s state-owned oil and gas company ADNOC were attacked while transiting the Strait of Hormuz, with the UAE accusing Iran of carrying out the attacks. The Pro Farmer Crop Tour begins Monday, August 17, and runs through August 20, providing the market with one of the first major independen...
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stocks report that USDA will release Wednesday afternoon. The 7-day QPF forecast from NOAA now shows heavy rain across the central and western C...
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted previously was perhaps best put by a Department of Energy report of 2022, under the Biden administration: Petroleum liquids markets are globa...
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others. Differences in climate, land, infrastructure, and technology help determine where agricultural commodities can be produced most efficientl...
