THE OPEN November beans: 15 higher December meal: 2.90 higher December soyoil: 49 higher December corn: 6 1/2 higher December wheat: 15 higher Prices opened into strength as firm overnights and a good close prompted follow-through buying activity. Oilshare saw some traders booking profits as stronger meal allowed bean prices to post double digit gains. Technically the gaps left to the downside of markets a few weeks ago started to get penciled in. Hotter and drier weather forecasts for next week and a more constructive chart outlook helped to support price action. SOY
The soy complex started the day on firm footing, with traders buying meal and selling soyoil. ...
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...
