General Comments Markets were higher overnight with soybeans up 3 cents, corn one half-cent higher and wheat up 2-3 cents. Volume was much better than other evening sessions this week. The corn and soybean harvests continued to make good progress this week, but there really hasn’t been much harvest pressure. Farmers have been reluctant sellers, and that will likely continue to be the case at current price levels. None of the markets could sustain early gains, and all (except soyoil) ended the week lower. USDA made several export sales announcements this morning, including the following:
198,000 MT of soybeans to China 120,000 MT of corn to Spain 125,000 MT’s of corn to “unknown”
U.S. equity markets...
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...
