May WASDE Soy Highlights Today USDA released its May WASDE report, which includes its first forecasts for MY 2018/19. While almost certain to vary from what actually will occur, they do provide a better understanding of USDA analysts’ perspective. First, following are key changes in USDA estimates for MY 2017/18:
The U.S. soybean crush volume was increased by 20 million bushels to 1.99 billion bushels (54.16 MMT) based on continued large monthly output. U.S. soybean ending stocks were reduced by 20 million bushels to 530 million bushels (14.43 MMT). U.S. soymeal exports were raised from 11.34 MMT to 11.52 MMT. U.S. soyoil exports were increased from 0.91 MMT to 1.04 MMT based on recent large sales. U.S. domestic soyoil u...
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...
