The USDA Export Sales report is delayed until tomorrow due to today’s Veterans Day holiday and so it is not definitive whether China has been in the market, and whether overall export demand is alive. Then there is the wobbling of weather forecasts, though those remain mostly bearish. The result was kind of a wobbly day though the buying mostly continued the direction from yesterday, if at a lower intensity. The leading contracts for corn and soybeans are now up three days in a row and for wheat it is four straight days of gains.
The CFTC’s Commitment of Traders report is also delayed due to the holiday and will be released on Monday after the close. Equities were split today with the tech-heavy Dow continuing...
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...
