The fortunes of domestic soybean processors have steadily improved as the average crush margin grew RMB 4/MT ($0.62/MT) to RMB 103/MT ($15.84/MT) last week, helped by certain developments.
Oilseeds Soymeal Inventory Fell Below 1 MMT China’s estimated soymeal inventory has dropped below the 1 MMT threshold for the first time since mid-May. It totaled 953,400 MT as of 1 September, a decrease of 118,700 MT (-11.1 percent) from the last full week in August. However, it was 242,100 MT higher (+34 percent) versus the start of September 2016. At the regional level, estimated soymeal inventories declined across the board with the largest drop in in Fujian as soymeal inventories there fell 12,800 MT (-33.6 percent) to 25,300 MT...
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...
