The CBOT traded a mixed day with the soy complex showing pronounced strength as soybeans look to catch up to the corn market’s early-week rally. World oilseed and vegoil markets are supportive for CBOT trade and July soyoil is threatening its contract highs. Wheat futures were mixed with lower corn values capping some of the market’s rally potential. Funds likely bought 10,000 contracts of corn today, along with 8,000 contracts of SRW wheat and 10,000 contracts of soybeans. Funds are aggressively liquidating long positions in cattle and hog futures as those markets are trending lower with increasingly weak technicals. Navigation through the eastern Black Sea is once again in peril after Russia announced it will restrict f...
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...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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