THE OPEN May beans: 1 1/2 higher May meal; 1.50 higher May soyoil: 10 lower May corn: 2 higher May wheat: 2 1/2 higher The markets opened mostly higher, but strength did not last long, as higher markets need energy and volumes to trade upward. Today continued to be about more light position-squaring into the April report, and a 3-day weekend. Volumes in spreads increased as this is day two of the Goldman roll. SOY
The soy complex started the day on a firmer note, but weaker soyoil chart direction weighed on beans. Beans continue to suffer from a lack of demand, though prices are mainly sideways. Meal prices were firmer for a change, with May bouncing of...
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...