THE OPEN
Nov beans: 2 lower Dec meal: .90 lower Dec soyoil: 4 lower Dec corn: 4 3/4 lower Sep wheat: 3 1/4 lower
Prices opened as expected with further congestive trade around the July WASDE. Demand bears are stacked up against new crop supply bulls, and as a result the market is carving out trading ranges awaiting the next major direction. Bean charts offered the prospect for more upside, corn charts more downside heading into the data. July WASDE: Gist of report neutral for corn, bullish for beans and wheat. U.S. PRODUCTION (Million Bushels) 2019-20 Jul Avg Jun 2018-...
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...
