Overnight trends once again feature a slightly firmer soy complex versus mixed corn values. Funds purchased the board yesterday and appear ready to get long beans perhaps, as well as corn. Bean prices are probing further to the upside again this morning, extending gains on top of Tuesday's reversal activity. To be sure, we are trading weather, trade negotiations, and USDA report data. The last reports have been surprises that caught funds leaning the wrong way, so will this report do the same? It is the reason behind some of the housecleaning activity going on for the moment, i.e. lightening up on corn length while covering in bean shorts. In the meantime, here are the general expectations for today's report:
Lower corn and...
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...
