The Market Large flash export sales, the smallest U.S. soybean production in five years, and the lowest domestic stocks in eight years could not overcome the surprise that USDA revealed with its November WASDE report. Yesterday’s mid-session announcement of more soybeans and a larger carryout erased some of the price gains made in recent days. There was follow through in that direction in today’s trading before reversing and ending in the green. For the week, January soybeans lost 4.24 cents while December meal and oil gained $7.30 and 1.84 cents, respectively.
The trend remains up despite today’s sour mood. China is worried about the weather in Brazil and seeking coverage. Over the next week, up to 40 percent of the B...
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...