THE OPEN
March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher
Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the announcement of a still lower wheat crop from Australia and higher values from the EU. Meal prices started the day lower but found good commercial pricing activity and short-covering courtesy of a near record short position. Oilshare was steady as soyoil held key lows for the first part of the day, and beans came back to trade both sides of unchanged. Wet weather in the US continues to factor into a positive trade as...
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...