The Market It has been a tough week thus far for soybeans and meal. The EU’s decision to delay its European Union Deforestation Regulation (EUDR) means there will be no break for U.S. exporters in competition from South America and Southeast Asia. The two days of decline have November soybeans down 1.85 percent thus far this week.
December soymeal has taken an even larger hit. Argentine soymeal is now selling at a discount and the EUDR decision has helped push Chicago meal down 3.37 percent thus far this week.
Soyoil was the only major agriculture futures contract in the green today. Boosted by sharply rising Malaysian palm oil prices and rising crude oil values, the December contract is up 5.1 percent thus far this...
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...
