USDA issued its 1 November report on grains and soybeans crushed during the month of September and, no surprise, the numbers were lower. Grain crushed for fuel alcohol in September was down 12 percent from August while non-fuel products from wet mill plants was down 1.6 percent. Even beverage alcohol production was lower, though there was higher output than in September a year ago. Soybean crush was down 9.2 percent in September, with a resulting decline in both oil and meal produced, and oil and meal stored. The declines were across the board relative to September 2018. The data was released after the market closed and so it will be pondered over the weekend and be reflected in Monday’s market.
...
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...
