Soybean and corn futures traded slightly higher again overnight, while winter wheat contracts stayed close to unchanged. Trading volume was barely average. However, prices across the board turned red early in the day session and stayed that way through the close. Soybean prices ended down more than 5 cents, soymeal was down around a dollar and soyoil fell 24-33 points. Corn was down about a penny, but wheat posted sharper losses following Stats Canada’s bearish final 2017 production report. Chicago wheat dropped 7.5 cents, KC wheat was down 8 cents, and MGEX spring wheat lost 12.5 cents. Markets reacted to the bearish Stats Canada numbers as well as weather model hints of rain over central Argentina about 10 days from now.
The bear...
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...
