THE OPEN Nov beans: 2 3/4 higher Dec meal: .30 higher Dec soyoil: 40 higher Dec corn: 1 1/2 lower Dec wheat: 4 3/4 lower The markets opened as called but the expectation for increased harvest and overbought markets sent prices into a badly needed round of profit-taking. Sell-stops were triggered in beans, with wheat prices leading the way lower. Weaker wheat weighed on corn, despite more biz announcements to China. Charts were in back and fill territory today for a turn-around Tuesday session of trade. Weaker spreads recently foreshadowed the break. SOY
New highs in December soyoil futures and profit-taking in beans set the stage for a correction for the soy complex...
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...
