THE OPEN
Jan beans: 2 1/4 lower Dec meal: .80 lower Dec soyoil: 1 lower Dec corn: 1 1/2 lower Dec wheat: 1/2 higher
The markets opened as expected with funds ready to sell on the opening rally. Major features of trade were that of buy soyoil/sell meal, and buy corn/sell wheat. Farmers continue to harvest in the last of the crops in the field, and are waiting for better levels at which to sell it. Today's trade turned very technical, as a short-covering open from the PM session resulted in weaker values, particularly for beans. Chatter around the industry is that the “phase one” U.S.-China trade deal will include beans and wheat, but perhaps not corn, which is leading to buy beans and wheat trade/sell corn over an exten...
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...