What You Need to Know Today:
It was just one of those days where seemingly everything was in the red as part of a broader risk-off economic sentiment amid de-escalation headlines in the Middle East. Other key fundamentals were also bearish, including the resumption of Mexican cattle imports and an improving weather outlook. The USDA announced it will resume imports of Mexican cattle through an Arizona port within 30 days, with additional border crossings planned later, after a more than one-year restriction aimed at preventing the spread of New World screwworm. The reopening could help alleviate historically tight U.S. cattle supplies and record-high beef prices, as Mexican cattle typically account for about 5 percent of U.S. cattle slaugh...
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stocks report that USDA will release Wednesday afternoon. The 7-day QPF forecast from NOAA now shows heavy rain across the central and western C...
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted previously was perhaps best put by a Department of Energy report of 2022, under the Biden administration: Petroleum liquids markets are globa...
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others. Differences in climate, land, infrastructure, and technology help determine where agricultural commodities can be produced most efficientl...
