Soybeans Brazil The Brazilian market had some movement at the beginning of last week, but it then calmed down by Friday due to the news that China and the U.S. were setting a new date for trade war talks. There were good crush margins in China at the beginning of the week when the Dalian futures market opened, and it was possible to hedge Brazilian soybeans. Demand was basically for October and November shipments, which traded at 315X and 330X CNF, respectively. Those Chinese crush margins disappeared by the end of last week, though, with the news of the U.S.-China meeting, and basis quickly dropped in Brazil. November traded at 305X CNF, a 25-cent drop in basis. The political nature of soybean trading these days means trading houses are...
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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