Thanksgiving week is typically the biggest travel week of the year, but recent COVID lockdowns following a new spike in cases lowered travel this year. Although air travel was up more than expected last weekend, auto travel was down. Last week was the lowest price for gasoline the week before Thanksgiving since 2015.
Ethanol prices were up from 2018 and 2017, but the average inventories for the first three weeks of November were also down 3.5 percent from 2019, 11.9 percent from 2018, and 5 percent from 2017. They were higher than in 2016 and 2015. In mid-October, the American Automobile Association (AAA) projected 50 million travelers for Thanksgiving, but with the new restrictions in November, that forecast dropped to 47.8...
What You Need to Know Today: Corn and soybean futures were lower to open the week, with funds still in control and in a selling mood. The upcoming WASDE report on Tuesday is also likely to feature larger corn and soybean stocks, which helped put grain futures on the defensive. Wheat futures we...
Key Takeaways: Currency exchange rates influence agricultural export competitiveness and producer profitability, even when underlying commodity prices remain unchanged. A weaker domestic currency allows agricultural exporters to receive more local currency for dollar-denominated sales, potenti...
Although inflation has remained elevated since the post-COVID surge, it steadily moderated until the past year. More to the point, today’s inflation looks very different from 2022, when the Consumer Price Index (CPI) peaked at 9 percent. During and after the pandemic, the M2 money supply...
