There was lower volume across the board today with some contracts stuck in narrow trading ranges. Corn, soybeans, and HRW appeared to porpoise, seemingly unsure about the right direction. The one big input to the market came after the close when USDA released a decidedly bullish Cattle on Feed report. For the week, corn, soymeal, HRS, and cattle had modest gains; soybeans, soyoil, SRW, HRW, and hogs had small losses. The Monday morning open for cattle is going to be a sight to see.
This week saw volatility from a perceived Russia strike on NATO member Poland, which turned out to be false, and a 120-day extension of the protected Black Sea grain corridor. Despite the angst over its renewal, the future of Ukrainian grain on the ma...
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...
