THE OPEN Nov beans: 4 1/2 higher Dec meal: .90 higher Dec soyoil: 33 higher Dec corn: 3/4 higher Dec wheat: 4 lower Prices opened as called with a higher soy complex values vs. weaker grains. Wheat prices continued to journey lower after the open while corn ran into slightly better support after placing new trading range lows for the move down. Funds are an estimated flat in corn, short 80K contracts in beans, and short 5K wheat. Spreading was abundant with buy beans/sell grain trade intact for much of the trading session. SOY
November beans pushed through minor resistance levels to bounce higher with products tagging along for the ride. For the day, soyoil futures...
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...