THE OPEN November beans: 10 1/2 higher December meal: 4.40 higher December soyoil: 14 higher December corn: 6 3/4 higher September wheat: 4 higher The markets opened as expected with further short-covering in grains and technical buying in wheat. Traders returned to a buy meal/sell soyoil trade, pushing soyoil back to the lower end of its trading range. Macros were negative, with crude lower which was the major reason for a weaker soyoil trade. Argentina's grain markets remain closed today and Friday due to a public holiday. SOY
The major feature in the soy complex was that of weaker oilshare as traders continued to sell soyoil on weaker macros. Stocks...
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...
