What You Need to Know Today:
Corn, wheat, and the soy complex all formed new contract or at least rally highs to close what has become one of the most uniformly bullish weeks in CBOT history. Escalations in the fighting between Russia and Ukraine and attacks on civilian merchant vessels show no signs of slowing, and the odds of a protracted shutdown to the Black Sea export program are growing. Those attacks – perhaps more than any other factor this week – drove the CBOT to its new highs. Russian grain prices are reported down 36 percent this year due to the export closures, which will reduce winter wheat planting in both Ukraine and Russia. The U.S. weather forecast shifts to warmer and drier for much of the Midwest next week,...
The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s always a “must-watch” event, but this year, amidst persistent inflation and with a new Fed chairman, Kevin Warsh, it drew additiona...
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
