Milling Wheat The Black Sea market remained firm last week as the challenging domestic logistics in Russia and slow farmer selling are supporting the old crop FOB market. The new crop (July/August) is offered at a $17/MT discount to the old crop. It is also priced about 2000 RUB/MT ($35/MT) higher than the new crop price at the same time last year. If Russia’s 2018 crop totals 75-80 MMT (as most analysts expect), its farmers will eventually start selling aggressively to secure a good profit. The EU reported that 333,000 MT were exported last week, bringing the total to 15.6 MMT versus 20.5 MMT at the same time last year. The French analysis firm Strategie Grains has lowered its EU export estimate to 20.3 MMT from 21.2 MMT last month...
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...
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