Markets were higher overnight and were called for similar follow through this morning, but things did not initially go as planned. Instead, funds came out as sellers with a generally bullish Export Sales report all but ignored. Volume was generally modest. However, after dragging negative for much of the time there was a turnaround later in the day that brought small gains to corn and soybeans. This is a market that bumps along, unable to find anything persuasive for more than mostly sideways congestive behavior. There will start to be some more nervous conduct as the 12 October WASDE report draws closer. The past week has generally been bearish corn and soybeans and bullish wheat, but today was a reversal of that trend.
Th...
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...
