THE OPEN
November beans: 3 1/4 higher December meal: .70 higher December soyoil: 18 lower December corn: 2 3/4 higher December wheat: 1 1/2 lower
The markets worked higher on technical follow-through from yesterday's reversal price action, which was a result of different stories/tweets regarding biofuels and trade talks. As to the first; Reuters announced that Trump said the administration planned a "giant package" related to ethanol. The second was confirmation as to perhaps a better outcome for trade talk negotiations. The Chinese Commerce Ministry made statements that implied that China and the US are making plans for the next face to face talks in September. In the meantime, China said they would refrain from takin...
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...
