THE OPEN July beans: 2 lower July meal: 3.00 lower July soyoil: 33 higher July corn: 3 lower July wheat: 3 lower The markets were wobbly overnight but quickly found their footings to climb to new contract highs once again. Oilshare was much higher as May contracts finally traded to 60c. Stronger bean prices accelerated the upside in beans, with corn prices higher as well. SOY
The key feature in the soy complex was that of a sharp rally in soyoil futures. Meal prices tried to follow, but buy soyoi/sell meal trade was the fan-favorite of the day. China continues to hunt for alternative feeds which leaves meal in a more vulnerable situation, while tight vegoil supplies...
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...