THE OPEN May beans: 2 1/2 higher May meal: steady May soyoil: 11 higher May corn: 3/4 higher May wheat: 6 higher The markets opened as expected with prices trading higher at the start of the day. Profit-taking was noted as shorts covered in beans and sold wheat. Traders eventually bot soyoil/sold meal with oilshare moving higher. The Outlook numbers set the stage for what may become a longer term buy bean/sell corn trade. Profit-taking was noted in wheat as funds remain long into the weekend to the tune of about 50K. The new crop bean/corn ratio traded to 2.36:1. SOY
The feature in the soy complex was an early rally in the bean market which triggered buy-stops and s...
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...
