China once again made headlines today with the announcement of “low level” trade talks between the Middle Kingdom and the White House. The news sent November soybeans 13 cents higher overnight and nearly 30 cents higher during the day session. Lean hog futures similarly benefited from an improved outlook for trade with China, hitting limit gains this afternoon. UDSA’s weekly Export Sales report was bearish old-crop corn and soybeans while neutral new-crop futures for the same commodities. Wheat exports were largely neutral with sales above their needed value but exports falling short once again. The higher U.S. dollar is pressuring export opportunities, as shown in today’s data.
Wall street is higher on f...
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...
