Inflation news
Those who follow my column know I am quite bullish toward the food and energy markets. They also know that my forecast for those markets to turn bullish has not yet come to fruition.
Even before Congress returned from its five-week, no-work period, Republicans signaled their return will bring no 2023 farm bill and no 2024 federal budget by the two laws’ drop-dead date, Sept. 30.
A shortage of food and energy should be coming sooner than later. I fully expect the final quarter of this year and into late 2025 to be a period marked by rising prices for those two basic markets.
The last weekly column I penned in July stated boldly: “We are entering a new era for food and energy prices that will not be solved until 2025, or later.”
Several fundamental events have combined in recent days suggesting that stocks as measured by the Dow Jones could drop 50% to 60% from current levels.
The Purdue University/CME Group Ag Economy Barometer rose two points in July to a reading of 123, indicating a slight increase in farmer sentiment about the ag economy.
There are several interesting theories on the ag and energy markets that have been unfolding the past few weeks.
The clock is ticking for the farm bill as it is set to expire at the end of September. Farmers and ranchers aren’t the only ones with eyes on the clock, either.
The Federal Reserve’s decision to raise its benchmark rate for the 11th time, by a quarter-point, could once again send ripple effects across the economy.
The Federal Reserve began hiking interest rates more than a year ago to fight inflation. In June 2022, inflation was nearly 9%, but has since dropped to 3%.
Hoosiers can expect to pay around 8% more for their summer cookout this year, according to Indiana Farm Bureau’s annual summer cookout survey.
Mexico began imposing a 50% tariff on white corn imports, a move that country’s president says looks to boost national production and prevent imports of genetically modified corn.
Farmers markets gave people something they desperately sought during the pandemic: A place to shop outdoors, and at the same time support smaller, often local businesses.
There is no doubt the grain complex has evolved into a full-blown weather market thanks to above-normal temperatures and below-normal rainfall in the U.S. Grain Belt going into the heart of the growing season.
I love celebrating the Fourth of July with my family every year. There’s nothing like a good, old-fashioned cookout and fellowship with loved ones.