While the reports were slightly positive for U.S. soybeans, that does not offset the overall negative outlook for the sector in the year ahead due to several reasons. WASDE and Crop Production Reports Slightly Positive for Soy Prices Today’s USDA crop production and supply/demand reports were slightly positive for U.S. prices. The net impact of the reports was to reduce the forecast for U.S. soybean ending stocks on 31 August 2016 by 25 million bushels to 40 million bushels (11.98 MMT). However, USDA did not see that as very positive since it decreased the midpoint of its average price forecast for 2015/16 by $0.10/bushel to $8.80/bushel. Among the more significant items in today report are the following:
USDA’s estimate for U.S. soybe...
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...
