Wheat was the big gainer last week but this week it gave up most of those gains. And soyoil was last week’s biggest loser but it rose to the top this week. Lean hogs also staged a major reversal after losing 1.32 percent last week and then rising 4.1 percent this week.
Where there is smoke, there is fire, and after days of rumors about soybean sales to China, USDA announced this morning that a deal had been made. Corn and soybeans are under harvest pressure but also weather uncertainty in South America. Argentina will grow less corn, but the weather is currently conducive to producing a crop. Brazil remains too dry in the main central growing region, but that could change, and if it improves, the current strength in Ch...
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 facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
