THE OPEN November beans: 6 lower December meal: 2.70 lower December soyoil: 3 lower December corn: 1/2 higher December wheat: 1 1/2 lower The tentative overnight trade and lack of sales announcements generated profit-taking from nervous longs at the open in the soy complex, which eventually took corn off its highs in a sympathy trade. Wheat prices remained solidly bid defying the rest of the board, having already sold off into lower prices the day of report. Better chances of rainfall in Brazil this AM also triggered the best round of profit-taking from the start of the rally. SOY
The soy complex opened lower but the amount of longs in the market taking up a huge amount...
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...