THE OPEN November beans: 6 higher December meal: 3.50 higher December soyoil: 4 higher December corn: 1 higher December wheat: 1 1/2 lower Prices opened as expected with wheat prices heading lower while beans and meal traded higher on the day. Meal gained on soyoil as more Chinese bean business announcements were made. Corn held steady against a weaker trending wheat market. Volumes were relatively light, with most of the markets remaining well bid except for wheat. Funds were net buyers on the day on the back of still strong technicals, adding back overall length. Corn sees continued strength as traders assess how aggressive China will be in purchasing US origin. SOY
The soy c...
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...
