THE OPEN July beans: 9 lower Jul meal: .20 lower Jly soyoil: 93 lower July corn: 12 lower July wheat: 16 lower The markets started the day lower but quickly found end-users, short-covering, and bargain hunters looking to own this pullback. Spreads were extremely firm with new highs. Oilshare found early stability and upside follow-through after the open. Longs were there to defend values at their open. The move higher from lower is typical of solid bull markets, which often features good comeback rallies after a significant correction. SOY
The main feature in the soy complex was that of higher oilshare, even though meal prices rebounded from the open as soyoil prices adjusted.&...
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...