Yesterday’s trade was a key technical reversal in the soybean market, and that brought more follow-through buying today. Wheat chased the soybean rally, while corn’s rally was more subdued. General Comments Markets were choppy in the overnight trade with corn and wheat slightly easier and soybeans slightly higher. That all changed when today’s session opened with the soy complex rallying to big gains. Wheat chased the soybean rally, while corn’s rally was more subdued. The U.S. dollar was lower today, and some credit that plus year-end commodity short covering for today’s early rallies. Adverse weather in central and northeastern Brazil was also a supporting factor.Outside markets were getting clobbered. U.S. equity markets were sharply l...
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...
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Accountability and a comprehensive approach to export programming
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