Corn and soybean markets found small measures of support in the Sunday night session, while wheat was mostly steady. Volume was good overnight, especially in corn. Last Friday’s USDA numbers were simply bearish for the corn market and neutral to slightly positive for wheat and soybeans. Most of the grain-related news this morning was again about China, including the following:
China’s Purchasing Managers’ Index (PMI) came in better than expected. There was chatter that a China trade deal is 90 percent done. The next trade delegation from China will be in Washington this Wednesday. USDA announced the sale of 828,000 MT of soybeans to China.
The other news is that funds continued to build their short positions in c...
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...
