THE OPEN May beans: 1/2 lower May meal: 3.30 lower May soyoil: 30 higher May corn: 1/4 higher May wheat: 2 lower The markets opened as called though prices quickly were lower for soyoil and beans. Traders were noted early buyers of corn/sellers of wheat, while oilshare corrected further to the downside. This will be a big day for soyoil price, as tumbling prices now set a possible top in the market. SOY
The soy complex opened as expected with the key feature of sharply lower soyoil prices as bulls head for the exit. Leaking soyoil prices weighed on beans, while meal turned lower as well. Buyers in meal remain patient, as the chart direction continues sideways...
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...