THE OPEN Jan beans: up 3 3/4 Dec meal: up 1.50 Dec soyoil: down 18 Dec corn: up 1 1/4 Dec wheat; up 3 1/2 Prices opened as called with many traders unwinding previous spread trade. More position - evening was noted after the bell, as traders unwound previous buy bean/sell corn and buy soyoil/sell meal trade. Traders also took profits on recent buy wheat/sell corn trade, making corn the buy leg of most spread activity. SOY
The soy complex started the day on a firm note, but after the open more liquidation in the bean market and profit-taking in soyoil futures sent prices into two-sided trade. Jan oilshare moved back below 34% to a corrective 33.60% trade, while crush values in Jan fir...
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...
