The Bureau of Labor Statistics (BLS) released the CPI for July this morning. The CPI was up 0.2 percent for the month and 2.7 percent year-over-year. The rate was down from 0.3 percent in June and steady with the year-over-year of 2.7 percent at the end of June. However, the core CPI, which the Fed monitors, rose faster at 0.3 percent in July and 3.1 percent year-over-year, the fastest annual pace in five months.
Perhaps more telling, the CPI for services was up virtually across the board. Transportation services were up 0.8 percent, hospital services were up 0.5 percent, medical care services were up 0.8 percent month-over-month in July. Airline fares were up 4 percent, the largest increase in three years, and dental services were u...
What You Need to Know Today: Traders are increasingly focused on next Wednesday’s August WASDE report, with corn and soybean yield estimates expected to drive the next major move in grain markets. Recent crop condition declines and late-July heat have increased uncertainty around USDA&rs...
Yesterday the Senate Agriculture Committee held its markup of the “skinny” farm bill, and it was derailed over Democratic opposition to plans for imposing food stamp costs on state governments. The Democrats pushed back on a provision that required states to pick up a larger share o...
Key Takeaways: WPI’s 2025/26 corn export models continue to reflect strong international demand and put the total marketing year volume slightly above USDA’s estimates. Strong old crop corn exports are offset by weaker feed and residual use, leaving ending stocks slightly ele...
