Few people like the big banks but they can set the mood and that is what happened with reports of earnings declining at JPMorgan and Morgan Stanley. The overall trend is down as outside markets trump the fundamentals in ags. One Bloomberg analyst concluded that commodities were never a good investment anyways! Still, it was a mixed day for ags with corn and soymeal ending higher, the rest lower. Seemingly ignored was the weather, which is retuning hot and dry at the same time 45 percent of the production area is short on subsoil moisture.
The quad (Ukraine, Turkey, Russia, and the UN) are set to meet again next week, purportedly to sign an agreement allowing grain exports from Ukraine, but it should be noted that the Western allia...
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...