THE OPEN November Beans: 16 1/4 higher December Meal: 9.40 higher December Soyoil: 14 higher December Corn: 4 higher December Wheat: 8 1/4 higher Prices opened as expected with new highs posted in beans, meal, and corn. Wheat prices threatened to make new highs, but found profit-taking instead. Funds are now long an estimated 280K beans, 205K corn, 65K wheat, 102K meal, and 100K soyoil after the net buying activity this week. SOY
The soy complex opened as expected with beans setting new ctr highs as funds purchased out of the gate. More business announcements and bullish trends continued the higher theme. Spreads continued to tighten with Jan/March bean sprea...
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...
