Even without the Nord Stream 2 pipeline, Germany is dependent upon Russia for 50 percent of its energy supplies. This is not the case for the U.S. Although Bloomberg’s Javier Blas makes the point that commodity trade with Russia will continue, it has been a very lopsided exchange for Americans. The overall trade balance between Russia and the U.S. has steadily grown in Moscow’s favor.
The same can be said of agricultural trade, where Russia has periodically banned U.S. products like poultry meat for being too competitive against Russian farmers. The result is a growing imbalance in the trading relationship. The U.S. would not suffer if it halted imports of Russian vodka and sunflower seeds.
Meanwhile, Russia has intentiona...
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...
