The soy complex has been under broad pressure over the past week with soyoil leading to the downside charge on weaker energy and outside vegoil markets, combined with ample technical selling. The weakness in soyoil pulled the soybean crush sharply lower with soyoil’s share of the crush margin falling 1 percent. Still, the board crush remains well above year-ago levels, thanks to less costly soybeans and stronger soyoil.
The weekly Export Sales report showed YTD shipments of soybeans, soyoil, and soymeal remaining above year-ago levels (by massive volumes in the case of soyoil) despite weekly reductions in net export sales. Net sales for soybeans and soymeal dipped sharply from the prior week, likely due to the growing tariff un...
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...
