GOOD MORNING, Prices are mostly lower this morning as the soy complex sells off due to weaker soyoil prices, and profit-taking in oilshare. Wheat is lower as Russia's IKAR increased 2021 wheat production to 81.0 mmt, vs. 79.8 mmt prev. Beans are lower reacting to larger Brazilian bean production as noted in the April WASDE, while dryness in Brazil keep's the Safrinha corn crop in more peril. Corn consolidates pulled down by weaker values elsewhere. The mini-trend established after the April report continues in the PM session, with corn firmer over beans, and beans weaker due to lower soyoil values. Egypt announced a tender for 30,000 mt of soyoil to close on April 15. The USDA report was pretty mu...
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...
From WPI Consulting
Illuminating the value of technical research
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