Retail price inflation continues to be an unwieldy political problem for the Biden Administration – especially prices at the gas pump and grocery shelf. This week the Bureau of Labor Statistics (BLS) reported the that the consumer price index (CPI) rose 0.3 percent in April over March, putting the annualized inflation rate at 8.3 percent over April 2021. In remarks during a farm meeting in Illinois – and a subsequent meeting with a labor union –President Biden blamed the pandemic and Putin. This week’s USDA release of retail meat prices shows that both pork and broiler meat are at record levels.
Beef prices are historically high, but not at the record levels achived in late 2021, except for grou...
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...
