THE OPEN March beans: 18 lower March meal: 450 lower March soyoil: 45lower March corn: 6 1/4 lower March wheat: 7 lower The soy complex and grains opened lower as expected on the back of overbought conditions and a poor round of export sales. Nestled within the bean export sales were Chinese bean cancellations, though morning announcements may have helped to offset them. Throughout the session, corn prices did not falter much, and instead remain fairly close to contract highs, suggesting the pullback in beans is merely a temporary adjustment to the downside. The bull market seems to be taking a breather, but is not over at the moment. SOY
The soy complex opened lower with...
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...
