THE OPEN November beans: 1 3/4 higher December meal: 1.60 lower December soyoil: 22 higher December corn: 2 3/4 lower December wheat: 3 lower Markets opened as called but it was back to lower prices in grains, which in turn applied pressure to the soy complex. Wheat and soyoil futures were the weakest markets for the day. Weaker wheat prices weighed on corn while traders unwound recent buy soyoil/sell meal trades. Oilshare, which had been trading higher, corrected lower. Weaker crude oil prices were in part responsible for soyoil's downside correction, as well as building a wall of resistance on the chart that suggests that a larger break is ahead. SOY
The key feature of the m...
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...
