Rains across the dry areas in central and northeastern Brazil did materialize over the weekend with more in the forecasts. This precipitation coupled with the meltdown in almost every other market brought more fund selling to the soy complex today. General Comments The world took a dim view of 2016 today with sharp losses in everything except the U.S. dollar and precious metals. One headline read “Flight to Safety” to start 2016! There were several factors worth noting:
China’s financial markets were down nearly 7 percent on more concerns/worries about the economy there. There is more turmoil in the Middle East with Saudi Arabia and Iran now exchanging threats. Rain in the driest parts of Brazil (central and northeast) did fall over...
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...
