The week between Christmas and New Year’s Day is supposed to be reserved for binge watching movies. However, this first trading day after the three-day break had some notable developments:
Volume was higher for corn, soymeal, soyoil and hogs. March soybeans briefly breeched the $15 level. February Live Cattle hit a new contract high of 158.425/cwt.
Today’s USDA Grains Inspected report for last week came in around as expected, which is not bad considering the period featured an Arctic freeze and a slower Mississippi River.
However, the weekly movements are still too slow of a pace to meet USDA’s predicted exports for the market year. This is especially true for corn. Again, it cannot all b...
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...
