The U.S. Energy Information Administration (EIA) released its winter fuels outlook last week, forecasting rising prices for several key agricultural inputs. First, natural gas will continue pushing up nitrogen fertilizer prices. While there are a number of factors at play in fertilizer prices including supply and delivery, crop prices, trade investigations (as WPI covered here), and natural gas, with the latter leading the way higher.
EIA is basing its forecast on colder than expected weather this winter and predicts natural gas prices will continue to climb. The front-month natural gas futures contract for delivery at the Henry Hub averaged $5.11/MMBtu during September and was $5.68/MMBtu to close last week.&nb...
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...
