Led by KC HRW, U.S. wheat futures prices charged higher on word that Russia was attempting to restrict grain exports by denying quality certification on export shipments except those to the four favored countries. General Comments Commodity and financial markets had plenty of things to chew on today. In no particular order, these included:
The Russian government announced that it would provide its usual phytosanitary certification on export grain shipments that are headed to only four countries. These include Egypt, India, Turkey and Armenia. This is a backhanded way of trying to limit the volume of Russian grain exports. With the exception those shipments, Russian authorities will no longer certify that the quality of Russian grain sh...
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...
