THE OPEN May beans: 2 1/2 higher May meal: 1.30 lower May soyoil; 40 higher May corn: 4 1/2 higher May wheat: 5 higher Commodity prices in general were higher as the Fed created a "shock and awe" moment with a surprise emergency 50 basis pt. rate cut. Commodities were firmer against a weaker US dollar led by gold, but certainly spill-over into Ags. Short-covering in corn and beans were obvious features of trade. Corn continued to gain on beans, while the soy complex entered into further price consolidation as soyoil corrected against meal. SOY
The soy complex traded higher on the day, though May beans seemed to grudgingly move to the next chart resistance level of $9.08 b...
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...
