The U.S. spring planting has finally begun. There is an adage that crops always get planted, and we believe this to be true even if what gets planted is not always as originally expected. USDA reported the following crop planting progress as of 22 April:
Corn: 5 percent versus 14 percent average Soybeans: 2 percent versus 2 percent average Spring wheat: 3 percent versus 25 percent average Barley: 11 percent versus 33 percent average Oats: 31 percent versus 55 percent average
With weather finally turning warmer and drier, the progress should begin to rapidly accelerate. Every spring planting season is a reminder of how quickly U.S. farmers, using today’s modern equipment and techniques, can put seeds into the ground giv...
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...