Key Market Insights Macro Markets: Inflation and Iran Reenter the Conversation Just when the grain trade had become comfortable focusing almost exclusively on weather, two major macro stories returned to the spotlight this morning: inflation and Iran. May CPI came in hotter than expected, with headline inflation rising 4.2 percent year-over-year, up from 3.8 percent in April. Core CPI also moved higher to 2.9 percent. The biggest driver was energy, with the energy index up 23.5 percent from a year ago and gasoline prices up more than 40 percent. The Key Takeaways:
Inflation is moving higher. Rate cut expectations may get pushed further back. The FOMC meets 16-17 June, putting interest rates back in focus. Middle East tensions are rising ag...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
