THE OPEN July beans: 4 1/2 higher July meal: 1.00 higher July soyoil: 23 higher July corn: 1 higher July wheat: 2 lower Prices were mixed at the open with wheat lower as Egypt's tender was filled by Ukraine and harvest begins in Oklahoma. More rumors of additional Chinese inquiries kept beans afloat from the start of the day, creating a buy bean/sell wheat spread trade. Before the open, USDA reported that China had indeed purchased 120,000 mt of beans. Buy bean/sell corn trade was also noted. SOY
The feature of the day was fund buying in beans and soyoil, as oilshare pushed to new highs. July soyoil found support on market pullbacks that allowed prices to test the 28c level.&nb...
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...
