The soybean market has been jostled this week, always by weather anomalies, second by a crop progress report that showed, well progress, and third, controversial trip to Taiwan by U.S. House Speaker Nancy Pelosi. Taking these issues one at a time: Weather conditions are sub-optimal, with more rain needed in western soybean growing areas, but it is not yet a disaster. As always, stay tuned. This past Monday’s USDA Crop Progress report showed a one-point increase in the share of soybeans rated good/excellent, and the share blooming is now just about normal. The percent setting pods is behind but, as the share blooming showed, can catch up quickly.
Finally, there is the Pelosi controversy. August is typically a big month when China m...
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...
