According to the U.S. Energy Information Administration, at the end of November, U.S. distillate inventories fell to 145.8 million barrels, which was back within the previous five-year (2015–19) range for the first time since 8 May. Diesel demand dropped to its low the most in June and fuel inventories started to build. By late July, inventory reached 180 million barrels, just 3 percent lower than the historic record of December 1982.
Distillate inventories started the year near the bottom of the five-year range and briefly fell lower than the range in March and April. From late May through mid-September, inventories remained above 174 million barrels. Since mid-September, inventories have been declining and are now within the five...
What You Need to Know Today: Corn and soybean futures were lower to open the week, with funds still in control and in a selling mood. The upcoming WASDE report on Tuesday is also likely to feature larger corn and soybean stocks, which helped put grain futures on the defensive. Wheat futures we...
Key Takeaways: Currency exchange rates influence agricultural export competitiveness and producer profitability, even when underlying commodity prices remain unchanged. A weaker domestic currency allows agricultural exporters to receive more local currency for dollar-denominated sales, potenti...
Although inflation has remained elevated since the post-COVID surge, it steadily moderated until the past year. More to the point, today’s inflation looks very different from 2022, when the Consumer Price Index (CPI) peaked at 9 percent. During and after the pandemic, the M2 money supply...
