Grain and oilseeds did little ahead of tomorrow’s massively important WASDE while cattle futures closed lower on lack of cash market support. Hog futures hit limit highs which will likely pull in additional support later this week. The weekly Export Sales report from USDA was neutral corn and soybeans while slightly bearish wheat. The report was “slightly” bearish wheat because, despite exports being down 38 percent YTD, it is very early in a wheat marketing year that is sure to be back-loaded with exports.
With only a few weeks left in the corn and soybean marketing years, it looks like 2017/18 exports will miss USDA’s projections. WPI’s forecast suggests soybean exports will fall 3 percent s...
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...
