THE OPEN May beans: 4 1/2 higher May meal: .20 lower May soyoil; 41 higher May corn: 4 1/2 higher May wheat: 6 1/4 lower The markets opened as called with oilshare pushing higher as more traders bought soyoil/sold meal. Major features included a bounce in corn, and more buying in soyoil. Corn spreads were firmer today while bean spreads were softer. The theme of the day was that of continued short-covering into the USDA report. A higher Brazilian Real vs. a weaker US dollar trade was price supportive for beans. Crude oil was "cautiously" firmer with talks slated to begin between Russia and the Saudi's on Thursday, drifting lower again by midday. SOY
The soy complex turned...
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...
