THE OPEN Jan beans: 7 1/2 higher Jan meal: 1.10 higher Jan soyoil: 30 higher March corn: 2 1/2 higher March wheat: 1 1/2 higher The markets opened as expected with a surging soyoil market and oilshare cushioning beans. Buy soyoil (on the back of higher palm and energies) and lower meal all taking oilshare higher. Buy beans/sell corn and wheat trade was also a feature for most of the session. Stats Canada was positive for canola, with acreage dropping, which added to soyoil strength as well. SOY
The feature of the day was the path of higher soyoil futures, which triggered buy-stops when prices traded back over 31c in the Jan market. Funds were net buyers of beans, meal, and soyo...
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...
