Today’s price action shows that without the recent bout of short covering, grain and soy markets are starved for direction. March options expire tomorrow (Friday), and that could ignite some small price movement in the underlying futures. General Comments Grain and soy prices eventually edged lower during the overnight session. Trading volume was relatively good even though prices were lacking direction. A similar price pattern prevailed during the day session. The market is back to trading both sides of the previous closes while holding in narrow trading ranges. They were particularly narrow today with Chicago wheat trading a 7 cent range as KC wheat held with 4 cents. Corn’s range was barely 3 cents, and soybean prices moved in an unusu...
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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