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 U.S. weather forecast has shifted to favor more beneficial conditions for finishing the corn and soybean crops, which is removing some weather risk premium from futures. Traders are looking ahead to Friday’s September WASDE, which will offer major insight...
Key Takeaways: Mandatory Country of Origin Labeling would provide consumers with more consistent information about where their beef originates, but evidence from the previous COOL rule found little indication that labeling increased overall consumer demand for beef. The primary potential benef...
The California General Assembly has passed a bill aimed at increasing transparency related to ultra-processed foods. California Governor Gavin Newsom has until 30 September to take action on the bill, though it will most likely be signed into law. Late last year, California became the first sta...
