THE OPEN Nov beans: 8 1/2 lower Dec meal: 2.30 lower Dec soyoil: 26 lower Dec corn: 1 1/2 lower Dec wheat: 2 lower The markets opened as called with the soy complex turning lower as better weather and technical price action created more net selling. Buy grains/sell soy and buy wheat/sell corn trade were the fan -favorites for the day. September contract liquidation continues with deliveries expected for corn, beans, meal, and soyoil. SOY
Technical price action took over as weaker opens continued to work lower triggering sell-stops on the way down. Dec meal prices traded back into its base of support, which also tends to weaken it once levels are approached time and time again. ...
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...
