Fund short covering produced another bounce higher in soybean futures while the corn market traded both sides of unchanged. Wheat futures saw selling pressure for the second consecutive day while cattle markets saw aggressive buying at midday. The hog markets moved slightly lower on profit taking. Wall Street is lower as of this writing with the S&P 500 and the Dow falling back from intraday highs after the Fed signaled it would increase interest rates a quarter-percent. The dollar is up fractionally while gold and copper, along with crude oil, are lower.
Corn December corn closed ¾ cents lower in quiet trading. The contract held above the downtrend line in place since late May, but today’s lack of trading...
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...
