Mexico’s Deputy Central Bank Governor Irene Espinosa is doing what many other politicians do when they want innocence from a problem – blame global warming. Inflation is higher this year in Mexico and food inflation specifically has shot up to 6.1 percent. The Deputy Governor has responded with the statement that “The spike we have seen in fresh food [prices] as a result of climate change…” If climate change is to blame, one would expect a drop in production but there is nothing in the indicators to suggest that is a problem. The country’s food production continues to expand on a solid pace.
Of course, she said “fresh” food, which is a poorly defined term but looking at the production of &...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
