THE OPEN March beans: steady March meal: .30 lower March soyoil: 10 higher March corn: 3/4 higher March wheat: 3/4 higher The markets opened as expected and quickly entered into position evening. Wheat was the first to turn lower, as funds now hold a core long position. March soyoil futures followed as funds are a record long for this market. There is not much more time to get out of positions, with an early close before Christmas, and closure on the holiday. Funds are estimated to now be short 60K corn, 80K beans, and 26K meal. Funds are long a record 100K soyoil futures and 30K wheat. SOY
Bean prices found light volume short-covering activity that took price...
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...
