Despite a decline in the landed price of imported soybeans to $425/MT last week from $435/MT the previous week, the crush margin remained under significant pressure. At an average RMB 217/MT ($32/MT), the margin gains from the fall were completely erased, driven mainly by one factor.
Oilseeds Soymeal Inventories Hit Highest Level Since Mid-August China’s estimated soymeal inventories reached 866,600 MT as of mid-February, the highest total since 12 August 2016. The average utilization rates of China’s major soybean crushers have remained relatively high since the New Year celebrations concluded, particularly compared with this past December and early January when pollution controls were put into effect. On the deman...
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...
