The Black Sea corn market was firmer last week, although not precisely following the CBOT futures rally. Ukrainian corn is offered at $177/MT FOB for November, and it's difficult to find aggressive offers for deferred positions. Milling Wheat The Black Sea market is firmer. Dry and cold weather in Russia is a significant concern regarding next year's wheat crop. Some local analysts are estimating that it will be as low as 48 MMT or 13-14 MMT lower than this year's crop, while the average estimate is around 50 MMT. These forecasts are obviously very premature as the winter has not even started yet. However, the market will closely follow the region's weather development, and any signs of increased risk of winterkill will have a significant...
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...
Illuminating the value of technical research
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