Except for the dip early this past summer, global vegetable oil prices have been on a year-long steady trajectory higher. This is especially true for sunflower oil, and thus the announced Russian export restrictions.
The rise in value of industrial materials gets the headlines as big bets on the future of the global economy, however, investors looking for yield would have fared better this year if they had just bought good old vegetable oil.
The strike in Argentina is only a small and recent contributor to the supply/demand imbalance. Even before the strike, U.S. soyoil prices were lower. Like all bubbles, this one will eventually pop but for right now it is an impressive ride. ...
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...
