THE OPEN May beans: 6 1/2 higher May meal: 1.50 higher May soyoil: 45 higher May corn: 2 1/4 higher May wheat: 1 lower The markets opened lower and found some profit-taking for grains, while bean prices traded higher. The corn/bean ratio has been skewed in favor of corn, which today saw a needed correction. Products were higher with the soy complex bouncing expecting a good NOPA March crush number today. SOY
The soy complex values remained firm with prices congesting further. May and Nov bean prices found some technical buying interest over $14.00 and $12.65, respectively, though May generally gained on Nov now that the Goldman roll has ended. Poor bean sales...
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...
