Trump Blinked, Farmers Lose The White House announcement that tariffs on laptops, phones, clothing and other goods from China will be delayed until after the holiday shopping season is a win for consumers. However, there was no corresponding offer by China to resume purchasing U.S. products like agricultural commodities. Under domestic economic pressure, Donald Trump just blinked, and Beijing is not about to allow him to save face. At this juncture, there are three scenarios, none of which are likely:
China agrees to a trade deal. Unlikely before 2021 because it is trying to run Trump out of office. China resumes buying U.S. agricultural products. Unlikely since Trump blinked over toys at Christmas, and the Chinese will now try to end...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
