THE OPEN July beans: 9 lower July meal: 3.80 lower July soyoil: 57 lower July corn: 1/ higher July wheat: 9 1/2 lower The markets opened as called with the feature of the morning that of higher values in corn as funds purchase the open. Corn strength surprises many traders as bulls are there to defend, and most of the strength is in the spreads, which trades to new highs. SOY
The soy complex started the day as a follower of stronger corn prices, with soyoil quickly surging to higher levels as traders bot soyoil/sold meal. July oilshare trades higher to 41.80% with crush down to 83c/bu. July soyoil trades quickly back over 60c, remarkably holding its major visual upt...
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...