The U.S. has not used the gold standard since 1933, when the Emergency Banking Act forced Americans to give up gold and convert their holdings to dollars. Since then, there have been “gold bugs” advocating for a return to the gold standard. Their argument? A gold standard prevents governments from issuing too much money. In the last 89 years since the official gold standard was jettisoned, gold nonetheless remained a hedge for, and typically benefitted from, inflation – but 2021 was a different kind of inflation. Precious metals, including gold actually decreased in 2021.
Inflation in 2021 was driven by a number of factors, though more money through accommodative monetary policy and government payments were certai...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
