THE OPEN July beans: 2 higher July meal: 2.40 lower July soyoil: 1.40 higher July corn; 2 higher July wheat: 3 higher The markets opened as called with two-sided trade as end-users sought coverage on weakness and bulls decided to book some profits. Oilshare continued to trend higher as meal prices traded lower. The drop towards the end of the session off the highs offered spooked bulls who took some profits on the recent run-up. Support was still noted as end-users were there to catch up on pricings. SOY
The key feature in the soy complex was that of higher oilshare as meal prices quickly turned red at the start of the day. Beans turned lower along with meal, while soyoil...
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...
