What could go right? The stock market and commodity futures both started the trading day glumly observing certain fundamentals:
U.S. core inflation in September at 6.6 percent had hit a four-decade high; CPI was at 8.2 percent. It is now sealed that next month the Fed will add another growth suppressing 0.75 percent to the federal funds rate. Even the President is now acknowledging that there could be a “mild” recession as the IMF downgrades the forecast for global economic growth. The dollar is so strong, the yen is at a 32-year low in comparison, further burdening U.S. exports. Not only do high interest rates risk causing a recession but the International Energy Agency warns that the planned OPEC+ output reduction...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
