THE OPEN November beans: 8 lower December meal: 1.40 lower December soyoil: 77 lower December corn: 2 1/4 lower December wheat: 5 lower The markets opened as called with meal markets firming again to post a new contract high against a struggling soyoil market. Most of the markets except soyoil turned higher on short-covering, pricing, and those wanting to be long on the back of the Sep. 1 stocks numbers. SOY
The major feature of the morning was that of weaker oilshare with traders buying meal on demand and positive technical chart signals, while selling soyoil with its affiliation to a weaker energy market. Dec. oilshare trades down to 31.0% while crush trades up to 1.01c/bu. Novemb...
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...
