Corn Harvest progress was slow last week, advancing just 2.2 percent partly due to heavy rains that prevented combines from entering fields. The other reason for corn harvest slowing is that the soybean crop is starting to be ready for harvest, and farmers are switching their focus to the oilseed. Soybeans need to be harvested as soon as they’re ready, otherwise they will start losing yield due to pods falling off or beans sprouting in the pods. Corn, however, can wait without losing yield, which is why farmers dramatically shift to harvesting soybeans once they’re ready.
Last week was complicated from a logistic standpoint. Despite the fact that agriculture is exempt from the COVID-19 quarantines imposed by the...
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...
