global economy

USDA March Estimates Show Minor Changes
USDA March Estimates Show Minor Changes
USDA March Estimates Show Minor Changes
USDA’s March crop production reports and supply and demand estimates showed minor changes this week.  The U.S. orange production forecast rose slightly month over month, yet will still be down 25% year over year.    Turning to domestic commodity balance sheets, an upward adjustment in ending stocks for corn led to a decrease of 10 cents to the season ending average price, now at $6.60 a bushel. 
Ukraine’s Exports Recover Under Black Sea Grain Initiative
Ukraine’s Exports Recover Under Black Sea Grain Initiative
Ukraine’s Exports Recover Under Black Sea Grain Initiative
According to ERS, Ukraine's corn and wheat exports have almost returned to seasonal-average levels since the summer of 2022.  The change follows the Black Sea Grain Initiative to reopen the Black Sea shipping routes.  Russia's invasion of Ukraine in February 2022 led to elevated security risks and infrastructure damage, causing Ukraine's seaports to be almost completely cut off from March through
China Weighing On The Mind Of Oil Investors
China Weighing On The Mind Of Oil Investors
China Weighing On The Mind Of Oil Investors
West Texas Crude traded around $71 per barrel in last week’s trade, the lowest level we’ve seen in roughly a year.  Patrick DeHaan with GasBuddy said the economic uncertainty that has pushed oil prices lower for the past two-plus months continues to weigh on the minds of investors.  He said while there’...
Oil Prices Fall Amid Economic, Demand Concerns
Oil Prices Fall Amid Economic, Demand Concerns
Oil Prices Fall Amid Economic, Demand Concerns
"Oil prices this morning have plummeted down to about $75 a barrel the lowest level since Russia's invasion of Ukraine back in February that has pushed gasoline and diesel prices down," said Patrick DeHaan with GasBuddy.  He added fuel prices have tumbled considerably over the past couple of weeks, resulting in relief at the local station.  He said ther...
Oil Prices Rise, Fall Thanks to China
Oil Prices Rise, Fall Thanks to China
Oil Prices Rise, Fall Thanks to China
Oil prices fell on Monday, paring gains after rising to more than two-month highs, on mixed signals over China, the world's top crude importer, potentially relaxing its strict COVID-19 restrictions.  West Texas crude dropped to $91 per barrel at Monday’s close, after jumping up to over $93 at one point Monday; the highest West Texas price we’ve seen since August 30th.   Prices climb...
Fuel Prices Moving Lower As Oil Prices Hold Steady
Fuel Prices Moving Lower As Oil Prices Hold Steady
Fuel Prices Moving Lower As Oil Prices Hold Steady
Oil prices have held fairly steady over the past couple of weeks.  West Texas Crude was down slightly to $85 per barrel in Monday’s trade.  But, despite the last of movement, fuel prices had been steadily dropping since early October.   So, why the disc...
OPEC Announcement Pushing Fuel Prices Higher
OPEC Announcement Pushing Fuel Prices Higher
OPEC Announcement Pushing Fuel Prices Higher
Fuel prices continue to move higher after OPEC nations announced last week that production would be cut by two million barrels per day starting next month.  Economic experts say this will send fuel prices soaring, and could put the global economy in a tailspin.  OPEC of...
UN Report: Global Hunger Increasing
UN Report: Global Hunger Increasing
UN Report: Global Hunger Increasing
A new report released Tuesday from the United Nations shows the number of people affected by hunger globally rose to nearly 830 million in 2021.  The UN report said the world is moving in the opposite direction from the Sustainable Development Goal of ending hunger, food insecurity and malnutrition in all its forms, by 2030. ...
DeHaan: No Relief For Fuel Prices Expected Anytime Soon
DeHaan: No Relief For Fuel Prices Expected Anytime Soon
DeHaan: No Relief For Fuel Prices Expected Anytime Soon
Just in case you hadn’t noticed, fuel prices have jumped considerably over the past couple of weeks, with gasoline prices and diesel prices moving anywhere from 15-25 cents across the Pacific Northwest over the past week alone. That due in part to oil prices, where are near three-month highs, hovering around $120 per barrel. ...

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