Although soybeans closed higher today, it could not offset the losses over the previous four trading sessions and left July soybeans nearly a dollar lower. The drop followed USDA reported net export sales of soybeans for the current marketing year fell 90 percent from a week ago, and 2022/23 net sales were down 35 percent. Current marketing year net sales of meal and oil were also down, though meal sales for 2022/23 were higher. The market ignored USDA lowering the share of new crop soybeans rated in Good/Excellent condition to 68 percent, which was one percent lower than the market expected.
AgriFood Canada reported that farmers are planting seven percent less canola this year and instead boosting the area sown to grain. The relatively...
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...
