The Market Prices generally decline in August ahead of the harvest and that is generally true right now. November soybeans fell 3.5 percent this week and have fallen 6.4 percent since the 2023 high on 24 July. But there are also more price supportive factors than usual. December soymeal fell 1.9 percent this week and December soyoil dropped 1.4 percent.
USDA’s August WASDE report a week from today is unlikely to show much yield reduction. A StoneX survey reflects expectations of USDA lowering soybean yield from 52 to 50.5 bushels/acre and production falling 2.9 percent from July’s WASDE to 4.3 BBU. However, the trade tends to be on the low side of USDA for the August estimate, and even the trade’s numbers will me...
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...
