Today’s Export Sales report from USDA held vastly different information for commodities in the grains complex. The report was decidedly bearish wheat, neutral/slightly bullish corn, and bullish soybeans. Each of the three futures markets responded in kind today, with wheat heading lower, corn mostly steady, and soybeans putting on a solid premium. Livestock markets were sharply higher today with feeder cattle touching limit highs in the afternoon
Outside the CBOT/CME walls (rather, electronic trading data centers), U.S. equities are higher with the Dow up 320 points (1.32 percent) as of this writing and the S&P 500 up 24 points (0.91 percent). The CBOE’s VIX index is down 1.5 percent while COMEX gold is down $15.70/...
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...
