The Market After hitting a four-year low last week, November soybeans reversed course this week, adding 25.75 cents (2.33 percent) to end at 1129.75/bushel. It was driven by strong demand in soyoil for renewable diesel, and possible trade retaliation by China against major palm oil supplier Indonesia. December soyoil added 4.91 cents (11.21 percent) to end the week at 48.7/pound. December soymeal failed to benefit, it lost $3.00 (-0.89 percent) to end the holiday shortened trading week at 332.5/ST. The Malaysian palm oil contract rebounded after a three-week decline, and canola was dragged higher with the January ICE contract adding 6.74 percent in value.
The CFTC’s Commitment of Traders report is delayed until Monday but sh...
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...
