The Market This week’s trading in the futures market reversed last week’s gains for November soybeans. The loss of 7.75 cents places the contract value at 1387.75/bushel, conveniently positioned smack dab in the middle between technical support and resistance. By contrast, this is two weeks in a row of gains for December soymeal, adding $6.80/ST last week and another $7.50 this week for a value of 425.4/ST. Soyoil looks like overall commodity futures: add a little here, subtract a little there, and end up in the same spot. December soyoil lost 0.29 cents this week to end at 71.79/pound. We still need to stay awake during this drag period because there will be, new and important market inputs.
First notice for Novembe...
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...
