THE OPEN Nov beans: 2 higher Dec meal: .10 higher Dec soyoil: 12 higher Dec corn: 1 1/2 higher Dec wheat: 1 1/4 higher The markets opened as expected with negative macros (sharply lower crude and stocks) weighing on early sentiment. The markets proceeded to try to break lower for much of the day without much follow-through, which later created more buying and short-covering interest. Corn seemed to be on the buy -side of everyone's page; buy corn/sell wheat and buy corn/sell beans were early market features. Buy soyoil/sell meal also emerged again with soyoil values once again successfully testing the lower end of trading ranges. SOY
The soy complex opened as called with...
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...
