The April WASDE is sometimes viewed as a way station between the end-of-March planting intentions and quarterly stocks reports and the May WASDE, which includes USDA projections of potential U.S. and world production along with supply/demand balances for the upcoming crop cycle. This is not to say that the April WASDE is not interesting; the updated production estimates for Argentina and Brazil will particularly grab a great deal of attention today. Following are the key numbers from this report:
On balance, this month’s WASDE is about as unsurprising as it could be. USDA lowered Argentine soybean and corn production due to the drought and by amounts close to expectations. Brazilian soybean production was raised and its corn produc...
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...
