THE OPEN November beans: 15 higher December meal: 4.40 higher December soyoil: 71 higher December corn: 6 higher December wheat: 15 higher The markets were called higher and posted further gains after the open on technical considerations and calls for warmer and drier weather next week. Beans gained on corn, as we prepare to enter the make-or-break month of August. Soyoil traded higher, while wheat prices found upside follow-through as well. The higher prices were courtesy of momentum trades, which were extremely constructive with this week's rally. While corn advanced as well, major measurement gaps still remain open, an indicator that this market has less inherent strength. SOY
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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...
