Improved Southern Plains weather left the wheat market lower today while soy rallied on hopes of disarmament in the U.S.-China trade war. Corn was flat to lower as planting progresses in the U.S. but Brazil’s second crop is still too dry. The livestock markets were lower on traders’ concerns about the likelihood of short-term price appreciation. Today’s export sales report featured large corn sales and exports that exceeded the pace needed to meet USDA’s projections. YTD corn exports are still down 18 percent, however, giving the report a more neutral (rather than bullish) tone. Soybean sales and exports continued their seasonal decline and wheat performance was poor this week.
Notably, the pr...
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...
