THE OPEN July beans: 21 higher July meal: 4.90 higher July soyoil: 180 pts higher July corn: 6 higher July wheat: 7 3/4 higher Prices opened and quickly escalated to the upside. Beans and soyoil quickly post new contract highs. Funds were buying out of the gate on solid technical closes, firm cash, extreme cold temperatures, and technical strength. New contract highs were quickly placed in beans, corn, and soyoil, and it felt like there was some panic buying as prices reached new levels of resistance. SOY
The soy complex traded higher on the day with prices jumping quickly to new contract highs. July beans traded up to new contract highs at $14.71 1/2, with November trading over the...
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...
