THE OPEN March beans: 1 lower Jan meal: 1.00 lower Jan soyoil: 14 lower March corn: 3/4 lower March wheat: 2 1/2 lower The markets opened as called with prices turning lower led by soybeans, which in turn pressured grains. The weakness in the bean market surprised many traders, as there was not a fundamental link or trade story for the quick down-turn, which suggested that recent bulls were happy with the rally. The confirmed announcement for beans seemed to only have provided a buy-the-rumor, sell the fact trade. Spread trade continues to win the majority of the volumes with Jan contracts rolling to March or beyond. SOY
The bean market turned lower today after clo...
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...