What You Need to Know Today:
The June WASDE report was largely in line with expectations, with no major market-altering changes to the balance sheets. The Producer Price Index rose by 1.1 percent month-over-month in May 2026, exceeding economist estimates of a 0.7 percent rise. The annual headline inflation rate was 6.5 percent, the highest since November 2022. Excluding food and energy, the PPI rose by 0.4 percent, less than economist expectations of 0.5 percent. This suggests that higher energy prices were the main culprit for the higher-than-expected increases. This morning, President Trump threatened to seize Iran’s oil infrastructure, including its main export terminal, Kharg Island. Hours later, President Trump said he had call...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
Key Takeaways: Grain futures pulled back sharply in overnight trade Friday on rumors that Ukraine proposed two possible options for ensuring civilian vessel safety in the Black Sea. Both Russia and Ukraine have recently targeted civilian vessels carrying oil and grain in the Sea of Azov...
