THE OPEN July beans: 5 1/2 higher July meal: 1.20 higher July soyoil: 24 higher July corn: 1 lower July wheat: 4 higher The markets opened as called with soyoil prices triggering buy-stops to trade to new highs for the move upward with some oilshare bulls locking in profits. Bean prices traded to new highs against lower corn, while wheat gained on corn as well. SOY
The soy complex opened strong but soyoil prices saw two-sided trade as bulls took profits on the soyoil run and oilshare. July soyoil triggered buy-stops over prev. 2814c tops to trade to 2820c, but turned lower when crude oil prices dropped due to more bearish EIA stats. The EIA crude oil report was bea...
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...
