In a market environment like this, the price direction of least resistance is usually lower. Overnight trade seemed almost at a standstill with grain and soy markets hugging either side of yesterday’s closes. The wheat and corn markets carried this into the day session. General Comments Markets are closed Friday and will reopen Sunday evening.Trade in grain and soy futures markets during this four-day week can be described as slow, slower, still slower and slowest. Volumes and trading interest were in retreat. Trading volumes were low enough to put markets at risk of sharp price moves generated by relatively small orders. However, as a sign of traders’ lack of interest, this did not happen.In a market environment like this, the price dire...
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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...