The Senate is back in session today; the House of Representatives will return on 12 August. Top of the Congressional agenda will be funding the federal government for FY 2024 before the fiscal year ends on 30 September. So far, no appropriations bills have been passed; the House has taken up one (Military Construction) the Senate has taken up none.
Given that none of the 12 regular appropriations bills have passed, the first order of business will be cobbling together a continuing resolution (CR) for a short-term extension of government funding. Typically, a CR is just an extension of the current baseline spending, but there are a couple of issues that will force some “cobbling”. Those include disaster relief for...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
