It was another mostly green day in agricultural futures, lending credence to the saying that the trend is your friend. Macro markets offered new variables but for ags it was more of the same old same old. The direction was mostly set out of the box with several opening bids outrunning the overnight closes. There were corrections later in the trading, but the overall pattern was set. This was especially true in the reversal of now sell meal and buy oil. It has become a bit of a mini-rally this week in corn, wheat, and soybeans. Since the market opened on Monday, December corn and November soybeans are each up over 9.5 percent, and September SRW is up 7.6 percent.
USDA’s weekly Export Sales report did little to contribute to t...
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...
