HRS wheat led the wheat complex higher today and reports of poorer-than-expected soybean yields ushered in some buying in that contract. No spillover buying was present in the corn market, however, while equities and energies took a tumble. General Comments Markets were again quietly “steady” overnight with prices not doing much. There isn’t any news to push markets higher or lower. The USDA will update their production estimates next week. It doesn’t appear there will be any bullish surprises as harvest results so far seem to be about as expected. Weather will be wet next week across much of the Corn Belt. That could cause some harvest delays.U.S. equity markets started the day easier on a relatively poor jobs report. Most people blamed...
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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...