Macroeconomic Trends Just a War of Words? USDA’s March figures for U.S. agricultural exports to China, detailed in its 6 May data release, reflect a much different story than the heated trade war rhetoric would suggest. Those exports, excluding forest products, ethanol, biodiesel, distilled spirits and fish products, totaled 2.51 MMT. It was the highest volume for the month of March since 2015 when 2.94 MMT were shipped. At a total value of $1.325 billion, the average FOB price was $527.82/MT, the highest it has been since last June. In fact, that price showed an increase in each of the first three months of 2018.
Given the sharp discourse between the Trump administration and Beijing throughout the first quarter of 2018, the Marc...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...