The CBOT struggled to find traction for a move higher, despite Tropical Storm Gordon’s heavy rains. Corn and soybean yield expectations are holding the market back while the recent rains across the U.S. are benefiting the winter wheat crop. Hog prices rose higher on the back of more ASF news from China while the cattle market paused to assess packer interest this week. Wall Street was mixed with the S&P 500 in the red for the day and the Dow slightly higher. The VIX is up with increasing investor nervousness while gold and copper futures managed a higher close as well. The Dollar Index is lower as emerging market currencies has a moderately good day.
Corn December corn gave back 3 cents today under pressure from t...
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...
