THE OPEN July beans: 7 higher July meal: 3.20 higher July soyoil: 84 higher July corn: 7 1/2 higher July wheat: 11 higher The market opened as expected with profit-taking in front of a mostly clear planting window, and the need to alleviate very overbought market extremes. Grains and soy traded both sides while soyoil stayed well supported throughout the session. Breaks found quick support from end-users and shorts who wanted to quickly cover something in. SOY
The soy complex feature of the day was that of higher oilshare with July trading up to 43.36%. Traders continue to buy oilshare, which pushes meal prices lower on the day with July back towards $425.00. Soyoil prices were highe...
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...