THE OPEN May beans: 1/2 higher May meal: .10 higher May soyoil; steady May corn: steady May wheat: 1 lower Prices opened on a mixed note with weaker oilshare a major feature of trade, while meal prices rallied sharply. The meal rally was off the back of an announcement from Argentina's Ag Ministry stating that they would temporarily halt the country's agricultural export records, driving speculation that it could be a step before the government would change grain export taxes. Short-covering in meal was a key feature while soyoil futures were pushed to new market lows. Grains remained soft as old wheat bulls continue to take strength as a selling opportunity. SOY
The major feat...
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...