GOOD MORNING, The markets continue to digest current USDA numbers, ProFarmer numbers, and trade war tensions that were ratcheted higher last week sending many markets lower. This morning the markets are higher on a combination of more positive news stories and funds now net short everything but soyoil. Lead headlines from Reuters indicate that:
Trump says Japan has agreed to buy a lot of US corn surplus. Specifically, out of the G-7 meeting Trump and Japan's Prime Minister Abe said they have agreed to buy excess US corn, and Abe referred to a potential purchase of US corn that would be handled by the private sector. Trade Rep Lighthizer said the agriculture portion of the Japan trade deal would cover wheat, pork...
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...
