THE OPEN Jan beans: 4 3/4 higher Jan meal: 1.50 higher Jan soyoil: 21 higher March corn: 3/4 lower March wheat: 1/4 higher The markets opened higher in the soy complex as shorts took the opportunity to cover beans and meal. Meal prices led the way in terms of strength as traders sold oilshare. Buy soy/sell grain trade dominated with wheat learning heavy all day on fund selling pressure. Dryness in Argentina, good crush numbers, and oversold conditions fired up the soy complex which stayed in positive territory for much of the day led by meal. SOY
Beans and meal put in a constructive day of trade on the back of technical buying activity spurred on by oversold charts and potentia...
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...