The USDA’s quarterly stocks and planting intentions numbers will be released on Thursday. Given the volatile situation globally, drought impacts, and high input costs, these will be especially important reports this year. Recall that last year’s report was quite bullish; within an hour of the report’s publication, soybean and corn were up their respective daily market limits. The planting intentions are surveyed starting in February and show the results as it is wrapped up as of 1 March. The ProFamer/Doane’s survey conducted earlier this month showed an expected drop in corn and increase in soybeans compared to actual acres planted (per WASDE).
The pre-report estimates show corn down 1.5 million acres and s...
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...
