THE OPEN March beans: 2 1/2 lower March meal: 2.20 lower March soyoil: 17 lower March corn: 1/4 lower March wheat: 1 higher The markets opened into new contract highs for corn with funds buyers across the board. Funds were buying back what they sold yesterday with room to add more as the Commitment-of-Trader's report for the soy complex particularly showed positions that were smaller than expected. Rallies on the back of fund selling worked higher as farmer selling remains extremely light. Wheat futures followed corn, while products stabilized on the back of strong bean and corn trade. A continuing weaker US dollar helps to support futures as well as new lows are set. SOY
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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...
