Although it didn’t start out that way, today’s trading ended mostly in the green for grains and soybeans despite continued weak fundamentals and large net shorts positions by speculators. For the trading week, May corn is now up 4 cents, May soybeans have gained 13.75 cents, and May SRW has added 18.75 cents.
It isn’t export sales that are bolstering the market. Wheat had more washouts, leading to a marketing year low for weekly commitments – though it did beat expectations for sales in 2024/25. Soybeans were unremarkable but it was another solid week for old crop corn and soymeal.
Near-term, weather continues to be benign at best but generally bearish. Soaking rains are aiding crops in central...
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...