It has been a very tough few weeks for grain and soy market bulls, assuming there are still any left. Those markets have been in a rather steady retreat with hardly any respite, although they have managed a bounce today. Along the way, the wheat and corn markets have set a series of new contract lows. Historically, this sort of price weakness is relatively unusual at this time of year. Seasonal price trends point higher as spring planting approaches, but that is not the case this year. As a measure of what has happened in the last month, consider the highs and lows for the lead May contracts for soybeans, corn, Chicago wheat and KC wheat.
The highs for both Chicago and KC wheat were on 13 February, while those for May corn and May soybea...
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...
