It was a mixed day for futures trading with corn and wheat rebounding from early week contract lows but the soy complex sliding lower on a weak petroleum market that dragged soyoil down with it.
Weather added a bearish overlay as rains continue to be helpful for Argentina and the forecast calls for increased chances of showers in droughty northern Brazil. There are also storms moving across the overly dry U.S. southwest HRW crop. Deliveries against the expiring December contracts were not as many as expected. Registrations in advance included 2,950 CBOT wheat contracts, four lots of corn, and 62 for soyoil. Deliveries turned out to be just 1,347 for Chicago wheat, and nothing for corn or the soy complex. The China Int...
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...
