THE OPEN July beans: 9 higher July meal: .20 lower July soyoil: 64 higher July corn: 3 3/4 higher July wheat: 1 3/4 lower The markets opened as called but quickly traded both sides of unchanged. Soyoil futures traded sharply lower led by May, which found the panic buying and short-covering on the wane heading into first notice day. The International Grains Council (IGC) trimmed its forecast for 2021/22 global corn, down 1 mmt to 1.192 bln with the US down 4.5 to 379.5 mmt. Increases were noted for Argentina for 21/22, up 3 mmt to 59.3 mmt, and the EU up 2 mmt to 67.5 mmt. Global wheat was up 16 mmt to 790 mmt for 21/22. SOY
Prices opened as called but short-c...
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...
