THE OPEN January beans: 6 higher December meal: 3.00 higher December soyoil: 40 higher December corn: 1/2 higher December wheat: 6 higher The markets opened as expected with new highs in several markets but noted profit-taking as well on overbought levels. Wheat and meal prices were the key markets to see back and forth trade. Bean prices remained firm on breaks, with traders hoping to see lower levels in which to cover shorts or try the long side. Bean and corn basis remains firm as producers continue to scale-up sell as prices head higher. Funds returned as buyers at the open as technicals continue to throw off positive trading signals. SOY
Meal prices...
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...
