Wheat Argentina’s wheat situation is increasingly complicated. It has not rained for several weeks, and the soil moistures are insufficient for planting wheat seeds. Many farmers missed the planting window or decided not to take the risk of planting. The Buenos Aires Grain Exchange again cut its sowing estimates by 100,000 ha to 6.3 Mha, down from 6.7 Mha last year. To date, 60 percent of the area has been planted with rapid progress in the last two weeks, especially in Buenos Aires province. Regarding crop conditions, perhaps the most important thing to note is that 40 percent of the area is in fair to poor water conditions. To make matters worse, the forecast for the coming weeks is not optimistic.
Additionally, pri...
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...