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: 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...