The corn/soybean yield debates continue, and there are big swings in the various yield and acreage estimates. USDA will include its special acreage survey in the August WASDE, which most analysts believe will reflect 1-1.5 million fewer soybean acres.
U.S. domestic rail freight continues to be cheap. Corn and wheat exports are far below last year's levels, and strong soybean exports can't make up the difference. USDA estimates total corn, wheat and soybean exports from the U.S. will be down about 6 MMT. There has also been no pressure created by farmer selling. Soybean stocks are down significantly from levels expected just a month ago. Corn supplies are still big, but they are not as large as once expected. Low prices have kept a...
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...
