After a wild week, the final trading session featured lower volume and measured moves. The result of the five days of trading included small gains for corn and soybeans, and a 9 percent fall in May SRW. Still, cash basis remains strong, and speculators reduced their short positions in wheat while increasing their long positions in corn. They shed 7.7 percent of their long positions in soybeans.
The market took a head-fake from Vladimir Putin, who implied progress was being made in peace negotiations. He also said he would not invade Ukraine. The Ukrainian grain industry says it is short fuel and fertilizer and will likely plant less exportable crops like sunflower, rapeseed, and corn, while instead focusing on domestically needed 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...