THE OPEN:
Nov beans: 1/2 lower Dec soyoil: 23 lower Dec meal: 1.20 higher Sep. corn: 1/4 lower Sep. wheat: 1 1/2 lower
The markets opened as called with prices leaning lower, led by soyoil futures. Inter-market spreads were prevalent, with traders buying meal (short covering) and selling soyoil. Beans leaned lower as good weather prevails. Weakness in outside markets filtered into today's trade, with stocks and commodities sharply weaker. NOAA’s long-term maps continue to show above normal temperatures, but average to above normal precipitation levels as well. SOY
The key feature in the soy complex was that lower oilshare, which took out 33.0% to trade down to 32.54% on energy weakness and lower palm oil prices. Bean in...
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...
