Normally, trading on the day before a three-day holiday weekend is a lackluster affair, but 2022 is an exception:
The winter storm and bitter cold weather blanketing much of the U.S. sparked a rally in wheat futures that spilled over into corn. The soy complex pushed higher again with soyoil receiving support from a rally in crude oil futures. No major technical developments were posted in the grain markets on Friday, but the strength this week has been surprising and likely signals a shift in market sentiment. Cattle futures pushed higher to end a bullish week while the hog market generally traded lower, except for deferred futures that found new contract highs. The livestock markets are set to trade higher ne...
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...
