THE OPEN
May beans: 4 1/4 lower March meal: .20 lower March soyoil: 49 lower May corn: 1 1/2 lower May wheat: 5 lower
The markets opened lower as called with March soyoil and oilshare trading lower. China continues to add stimulus to keep its economy going which is translating to better stock performance today. The IMF announced that world growth would continue to improve despite the coronavirus. Technical trade continues in wheat, with funds long and grabbing headlines to justify their position. Buy meal/sell soyoil and buy beans/sell corn became the trade of the day, as wheat prices sat where they were for much of the day having tacked on huge gains yesterday. Later in the session bean prices tacked on more gains wi...
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...