Markets started the week lower in the Sunday evening session with soybeans the weakest followed by wheat and corn. The lower pattern continued through to today’s market, but the losses in soybeans and wheat worsened. Soybeans eventually closed down 8-9.5 cents, but Chicago wheat managed to finish 0.50-1.75 cents higher. Corn was 1-2 cents lower most of the session and closed that way. The following news items were not helpful to the markets:
Russia’s ag ministry again said that there will be no wheat export restrictions. U.S.-China trade talks continue but without any significant progress publicly reported. Congressional negotiations over the budget and border barrier broke down over the weekend, which means there is still...
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...
