The Market Drought in Brazil drove soybean prices higher and now rain in Brazil is driving the market lower. If it turns back dry as expected, then pricing will firm. For the week, soybeans lost 7.25 cents, but soymeal gained $1.60 to 436.50/ST. The January contract hit a new high on Wednesday at $460.60/ST. The largest percentage gainer across grain markets for the week was January soyoil, adding 0.66 cents to 51.21-cents/pound. The bullish NOPA crush report was the inspiration.
The CFTC reports that in the week up to 14 November, speculators increased their net long position by 48 percent to 59,077 contracts. USDA Export Sales report reflected the recent surge in Chinese soybean purchases. In fact, weekly U.S. soybean export sa...
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...
