THE OPEN May beans: 4 1/2 higher May meal: 1.00 higher May soyoil: 4 higher May corn: 2 3/4 higher May wheat: 1/4 lower Prices opened as called but a shake-out in oilshare pressured bean prices. Corn gained on beans and wheat found a short-covering bounce into tomorrow's numbers. The Goldman Roll will begin tomorrow, as May contracts are rolled forward. SOY
The major feature in the soy complex was that of breaking spreads and sharply lower soyoil which pressured beans. May beans sold off to major support at $14.00 and November beans found support at $12.60. Both markets recovered off their lows as corn prices rallied. Weaker crude oil price...
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...
