GOOD MORNING,
Inter-market spread activity continues as funds buy beans and sell grains. US beans are a good buy for the moment, and China has been busy this week. World vegoils are firming up as countries come out of lock-down, with China and India resuming its purchases of palm oil. Soyoil trades higher following 2% gains in palm oil trade overnight. Crude helps all commodities in general as it continues to see short-covering on the prospect for further world cuts. News-wires are reporting that Russia and OPEC's Saudi Arabia have come to an agreement to extend oil production cuts by another month. Corn prices weaken overnight as weather remains benign. EIA repor...
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...
