This week's bearish USDA reports will likely result in farmers doing all they can to store as much of their unsold 2015 production as possible. One problem is that a great deal of the 2014 crop still remains in their bins.
The El Nino that was previously discussed here finally made the national news this week. All of the major networks displayed the sea surface temperature maps, etc. and tried to explain the potential impact in 20 seconds. Some private weather services also updated their El Nino "watch" information this week. The basic message is that changes in rainfall/weather should start quickly as this El Nino continues to enlarge. No one knows what that will mean for production in Asia, Southeast Asia and South America. It might, h...
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...
