Grains and oilseeds traded a largely uneventful day while waiting for the USDA’s WASDE report on Friday. Livestock futures were lower with cattle futures tumbling on quiet cash markets while cash hog prices moved lower as well. Wall Street is higher on continued earnings growth/positive surprises and from Friday’s bullish jobs report.
Corn December corn finished ¼ -cent lower on a day with little news to move the market. The weather is increasingly hot/dry heading into mid-August which will not help corn yields. The weather issues around the world are well-known and mostly unchanged for today. The trade is eagerly waiting USDA’s forecast of the U.S. yield, as well as its updated assessment of world ending...
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...
