Lack of fundamental news, except better weather for Brazil, left the CBOT to head lower in lackluster trading. Fund selling was notable, especially in wheat, while commercials were active grains buyers. Livestock futures were mostly higher with strong morning beef prices supporting the cattle complex. Presently, Wall Street is mixed with the Dow up fractionally and the S&P 500 doing nearly the exact opposite. The U.S. dollar is steady/slightly higher while the VIX is up 1.4 percent. Crude oil futures are higher after the U.S. announcement of sanctions against Venezuela in attempt to influence socialist dictator President Maduro.
Corn Early morning support from buy corn/sell wheat trade faded at midday with little fresh...
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...
