The Market This was the fifth consecutive week of decline in soybean values. November soybeans lost 16 cents (-1.42 percent) to finish out the week at 1104/bushel. December soymeal was down $5.90 (-1.72 percent) for a contract value of 335.5/ST. December soyoil ended the week at 43.79/pound, a loss of 0.59 cents (-1.32 percent). Palm oil gained but ICE November canola lost 3.5 percent in value.
For the week, speculators increased their net short position in soybeans by 22.38 percent to 139,294. USDA’s Acreage and Quarterly Stocks reports were more a market mover for corn than for soybeans. Soybean planted acres came in a half-percent below the average pre-report estimates, meaning late planted corn acres were not swit...
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...
