THE OPEN July beans: 5 higher July meal: 2.00 higher July soyoil; 31 lower July corn: 2 1/2 higher July wheat: 7 1/2 higher Prices started the day at market highs, except for soyoil, with better buying after the open, and a short-covering rally in corn and meal. The rally was primarily led by beans, which broke out of its sideways pattern to trade into new highs. Funds were buyers into good commercial selling as better prices were placed. SOY
The soy complex opened with a good rally as charts were more constructive which triggered further buying in beans and meal. Soyoil prices continued to labor with funds already long and prices working back towards trading range...
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...