The CBOT was mostly driven by pre-WASDE positioning, expectations for harvest progress in the U.S., and the Export Inspections data. The weekly export data showed continued bearish pressure for corn, with YTD exports down 62 percent, which is among the slowest paces in recent memory. The soybean shipment figures were bullish with shipments again exceeding their values needed to keep pace with USDA’s forecast. Wheat shipments were disappointing but the 22 percent YTD increase in shipments is keeping some wheat bulls encouraged.
Reports broke late this afternoon that China is pressuring President Trump to eliminate more tariffs on Chinese imports ahead of the trade deal signing. Politico reports that Chinese officials a...
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...