The world was selling everything today, including wheat, corn and soybeans. It was as close to a Black Friday as we could get in the financial markets. Today was also expiration day for September options. General Comments If it wasn't for bad news, there wouldn't have been any news at all - or so the old saying goes. The world was selling everything today, including wheat, corn and soybeans. It was as close to a Black Friday as we could get in the financial markets. Below are some key highlights:
Crude oil dipped below $40 for the first time since 2009. China's Purchasing Manager Index (PMI) was the lowest in 6½ years. U.S. equity markets were losing 2 percent and had the worst week since August 2011. Even the mighty U.S. dollar was...
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...