Wheat and corn continue to trade on one edge of the distribution while soybeans and soymeal chase the other side. The continuing trend is for declines in the value of corn and wheat, while soybeans push higher. Thus far this week, January soybeans have gained 47.75 cents (3.3 percent), while corn and wheat chase the other direction.
Then again, soybean fortunes are likely to reverse in a just a few more weeks when Brazil starts hitting on even more cylinders. Soymeal seems unlikely to hang on to outsized gains, especially if soydiesel enthusiasm sputters. Corn is hanging in there better than expected, though it has been held up by domestic demand, and now ethanol is chasing gasoline demand lower. The USDA weekly Export Sales...
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...