The market had been positioning in advance for today’s USDA Acreage and Q2 Stocks reports to be bearish and traders were generally rewarded. Though corn absorbed the harshest reaction, more than half its weekly losses occurred earlier in the week. For the week: September Corn: -7.5% November Soybeans: -1.42% December Soymeal: -1.72% December Soyoil: -1.32% September SRW: -0.39% September HRW: -0.12% September HRS: -0.68%
Wheat and soybean planted acres came in a half-percent below the average pre-report estimates, but corn acres were 1.6 percent larger than expected. Can the acreage numbers be trusted? Not all of the acres were actually planted when the survey was conducted during FH June, meaning assumpti...
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...
