What You Need to Know Today:
Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate increase. CONAB released its monthly report, raising its corn production forecast by 0.9 percent to 142.995 MMT while trimming its soybean production estimate by 0.1 percent to 180.464 MMT. Wheat markets are closely monitoring the potential revival of a Black Sea grain initiative, which could restore grain export flows from the region. Old-crop corn export sales saw a notable increase from 117 KMT the previous week to 411 KMT in the most recent export sale...
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...
