THE OPEN May beans: 3 1/2 lower May meal: 1.10 higher May soyoil: 44 lower May corn: 1 1/2 lower May wheat; 3 3/4 lower The markets opened as called with corn gaining on wheat and beans, while oilshare continued to weaken. Wheat prices took out major support as old longs left and technical bears jumped on-board. Meal prices remained firm as Argentine crush and export problems continue, with a farmer strike on the way. Ags could not avoid the heavy macro picture, eventually triggering sell-stops to lower levels, led by wheat trade. SOY
The soy complex traded on a mixed note, as the major feature was lower oilshare, with meal and soyoil backed by their own recent stories. For soyoil, i...
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...