Futures closed mostly lower with USDA’s mid-session November WASDE report causing a drop-off on higher production and stocks.
U.S. Wheat
Increased imports by 10 million bushels. Raised ending stocks by 14 million bushels. Lowered the season average price by 10-cents to $7.20/bushel.
World Wheat
Lowered world wheat production 1.4 MMT but raised beginning stocks and lowered exports and ending stocks. Russia’s wheat production was increased 5 MMT to 90 MMT but kept exports at 50 MMT. Argentina’s production was lowered 1.5 MMT to a total of 15 MMT.
U.S. Corn
Raised yield by 1.9 bushels to 174.9 bushels/acre. Raised production by 1.1 percent to a record 15.234 billion bushels. Raised food, fe...
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...
