The federal government's revenues are outpacing its outlays compared with 2014. This and other positive economic factors have strengthened the U.S. dollar, which is a drag on commodity prices.There is much to be read in the economic tea leaves lately that points to a strong U.S. economic recovery. First of all, total receipts for the federal government are up for the first 10 months of the fiscal year. The reasons for this are:
Income tax withholding was up 6 percent or $100 billion, most likely from gains in wages and salaries. Non-withheld tax receipts were up 16 percent or $71 billion, reflecting growth in non-wage income such as that of entrepreneurs. Corporate income taxes increased by 9 percent or $22 billion as a result of highe...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
