The Market The January soybean contract closed out the week with an overall gain of 32.25 cents, the best of any grain crop contract, and is now priced at 1351.75/bushel, a new one month high. Support is coming from tight stocks and concerns about Brazilian weather and output. December soymeal was down slightly as the January contract gets pushed and was up $5.50 for the week to a new contract high of 432.50/ST. By contrast, December soyoil lost 2.91 cents for the week and January soyoil lost 2.35 cents.
Speculators had reduced their net short position in soybeans the week before and now they are net long by 7,834 contracts as of 31 October. USDA’s weekly Export Sales report showed new commitments at the lower end of market...
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...
