THE OPEN Jan beans: 3 1/2 higher Dec meal: .70 higher Dec soyoil: 33 higher Dec corn: 1 1/4 higher Dec wheat: steady Prices traded higher on the day extending gains after the open. The feature of the day turned out to be more short-covering in corn after some key lows were reached yesterday. Beans were firm, but later buy corn/sell bean trade (unwinding prev. spreads) benefited corn more than beans. Ideas that the latest break turned beans, corn, and wheat into more competitive territory helped to underpin prices as well. Export sales on Thursday may show a better pace for corn and wheat. December options will expire on Friday. SOY
The soy complex opened higher toda...
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...