THE OPEN November beans: 4 higher December meal: .40 lower December soyoil: 38 higher December corn: 1 3/4 higher September wheat: 2 higher Prices opened in line with market expectations, with firmer oilshare courtesy of a weaker meal market. Light position - evening was the feature of the day, with short-covering in corn and profit-taking in wheat given its upside run. Funds purchased beans and soyoil after the market opened. SOY
The key feature in the market was that of firmer oilshare as a sharply higher palm oil market kept Dec. soyoil futures nicely supported during the session. Funds are only long a modest amount of soyoil, with the upside break-out triggering more...
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...
