THE OPEN May beans: 3 lower March meal: 1.00 lower March soyoil: steady May corn: 2 lower May wheat: 3 lower Prices were lower today as the Outlook did not add anything of bullish value to trade. Moreover, the strong US dollar - at 3-year highs vs. the weaker Brazilian Real at 3-year lows - continues to impact beans. The spread is record wide and making US beans that much more expensive against Brazilian origin. The USDA projected Chinese purchases of US ags at $14 bln, which was much less than the estimated $36 bln China promised in the Phase One deal. Nonetheless, the agency said it expected China to begin to make purchases this spring. SOY
The soy complex...
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...