THE OPEN November beans: 11 lower December meal: 3.50 lower December soyoil: 63 lower December corn: 3 1/4 lower December wheat: 5 3/4 lower Prices opened lower and quickly triggered sell-stops into new lows for the move down on what felt like a bit of panic selling from the start of the trading session. Wheat prices turned mixed with some unwinding of previous buy soy/sell grain trade. End-of-month profit-taking and October liquidation weighed on prices which saw a large downturn. Meal prices collapsed as oilshare finally received a needed bounce off the lows. Slightly better than expected harvest results so far were also price negative. SOY
The scales tipped in th...
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...