The funds started this week with a record-large short position in wheat, a big short in corn and moderate-to-small short positions in soybeans and soymeal. It was all about weather and funds today, and volume was relatively heavy. General Comments It’s been a very long time since a wheat contract traded up the limit, or any other agricultural contract for that matter. KC July wheat flirted with limit up most of the session. Below are the latest trading limits, which are now variable:
Chicago wheat - 30 cents KC wheat - 30 cents Mpls wheat - 60 cents Corn - 25 cents Soybeans - 70 cents Soymeal - $25/ST Soyoil - 2.5 cents/lb.
Cold temperatures followed by heavy snow across approximately 40 percent of Kansas and eastern Colorado...
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...
