THE OPEN January beans: 6 1/2 higher December meal: 1.40 higher December soyoil: 32 higher December corn: 3 1/4 higher December wheat: 6 higher The markets opened higher as expected but profit-taking was noted for the soy complex and grains heading into another mostly clear harvest weekend. Disappointing export sales for corn were also a reason to book profits. Increased movement was noted as prices hit new target highs. Buy grains/sell soy trade was noted, with some bottom picking in soyoil as it traded back towards recent chart lows. SOY
The main feature in the market was that of new contract highs in meal, but morning prices were met with weekend liquidation and...
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...