What You Need to Know Today:
Corn and soybean yields in the September WASDE report were close to pre-report expectations. The corn yield came in at 178.5 bushels per acre, compared with an average analyst estimate of 178.1, while the soybean yield was 52.8 bushels per acre, slightly above the 52.5-bushel average analyst estimate. The Consumer Price Index rose 0.4 percent month-over-month and 3.4 percent year-over-year. Core CPI, excluding food and energy, increased 0.3 percent for the month and 2.4 percent year over year, reinforcing expectations that the Federal Reserve could raise interest rates at its meeting next week. The average U.S. diesel price exceeded $6 per gallon for the first time in history as global fuel supplies remai...
Commodity markets – being composed primarily of human beings – reflect the impatience and forever forward-looking nature of humans. In the present case, this means that while the September WASDE offered some much-needed and much-desired updates, markets are now focused on that etern...
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 pe...
USDA and sugar have been married since 1934. With such an old marriage, there are all manner of promises, obligations and compromises. There are disagreements and arguments, and occasional calls for divorce, but they lack real conviction. We outsiders find it all so difficult to understand. The...
