USDA’s annual Outlook conference started today, and it held no surprises by affirming the likely outcome of the current corn/soybean price ratio and tighter overall farm income.
Farmers will plant more corn, netting record production, causing ending stocks to grow and the price to fall. They will plant the fewest soybeans since 2020, stocks will fall, but prices will still drop due to larger global supplies. Wheat area will edge up, along with stocks, but most things will stay the same including price, which falls less than one percent.
When added to President Trump’s renewed and expanded designation of import tariffs and a strong dollar, grain and oilseed markets continued their fall today. Today’s report i...
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...
