Soybeans The soybean markets finally started moving with China actively buying at the beginning of last week. Crushers there decided to move after President Trump’s tweet suggesting that U.S. and Chinese officials might not meet in September. They assume there will be no opportunity to buy U.S. soybeans in the near future, and modest improvements in their margins prompted the decision to secure supplies from South America. It is now clear that demand has only been moving when crush margins are positive. Last week showed sudden demand for nearby positions. Buyers have been interested in securing spot soybeans to take advantage of the cheapest basis. However, that pushed spot basis higher and reduced the carry from 11-12 cents/m...
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...
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Illuminating the value of technical research
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