There has been much consternation about the pace of U.S. export sales and shipments for the current marketing year. Interestingly, corn and wheat prices have been getting battered even though both commodities appear to be on track to meet USDA’s export goals, while the soybean market has remained relatively strong despite the fact that export sales will be well below last year even if a deal with China is reached. Here’s a quick recap of where corn, wheat and soybean export sales and shipments stand as of yesterday’s weekly export sales report.
The U.S. corn export shipment pace has been so good relative to last year because of the small safrinha corn crop in Brazil and increased import demand from Europe into the firs...
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...
