GOOD MORNING, Prices remain steady today as the Agricultural Outlook Forum presents its full Supply and Demand tables and acreage numbers. Heading out this weekend funds may hold an estimated 130K short corn, 90K beans, and 50K meal. Funds are estimated to be net long around 45K wheat and 45K soyoil. As to the Outlook numbers: The gist of the report was bullish for wheat, with production to drop 4%. Key feature in the beans was that USDA increased exports and drew down ending stocks, tilting the numbers into a more friendly slant as well. Corn numbers were neutral to bearish. Reaction of the market was for wheat and beans to strengthen post data. Here are the Forum...
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...
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Accountability and a comprehensive approach to export programming
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