In two weeks, the Energy Information Administration (EIA) will resume price reporting on propane (assuming there’s no government shutdown). The price reporting stops at the end of March, but as of 27 March prices were $0.96 per gallon, the lowest March average since 2020. Currently the commercial markets are down; it is one of the few energy commodities that is down on the year other than natural gas, which has declined from record peaks. According to the EIA’s Sepetmber short term energy outlook, inventories are expected to be at the top of the five-year average range, and even slightly exceed it in early 2024. Prices for the end of 2023 and into 2024 are forecast below the 2022 averages.
This outlook is positiv...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
