We kicked off the day with Core PCE Price Index MoM & YoY, PCE Price Index MoM & YoY, Personal Income, and Personal Spending at 7:30 A.M., Michigan Consumer Sentiment Final, Michigan 5-Year Inflation Expectations Final, Michigan Consumer Expectations Final, Michigan Current Conditions Final, and Michigan Inflation Expectations Final at 9:00 A.M., and Baker Hughes Oil & Total Rig Count at 12:00 P.M.
It’s the economy stupid! It’s the Border! Yesterday the street had pegged GDP at roughly up 2.5 %, which is anemic in itself. But the reality came in at 1.6% which is just pitiful. Federal debt continues to outpace GDP by a wide margin. If it were not for government spending, the US GDP would be deeply negative. Taxpayers and actual US citizens covering migrant debit cards and migrant employment that is counted in Unemployment should not count illegal aliens to be counted in the workforce. Now we face a huge dilemma for the US taxpayer – and can the US economy can grow without creating massive piles of new debt. Add in $1 trillion of new US debt every 100 days argues that a debt crisis will emerge for the US in the years ahead. Can the current administration curb spending and realize they doing the opposite of balancing the budget? The line is off in Vegas.Corn futures ended slightly higher as an early end of Brazil’s wet season threatened yields. Brazilian new crop corn sales as of late April are scrapping along at decade lows. US corn stays competitive in the global marketplace through July. Brazil is not producing a serious export offer until August. Weather in the Central US remains favorable. Widespread planting will continue for another 24 hours before soaking rainfall blanket the Central Plains, Midwest, and Delta. Fieldwork halts nearby, but drought will be nearly eliminated in from E KS, MO, and Pockets of IA. Rainfall of 2-4” is forecast into Monday & Tuesday with additional rain thereafter.SPR’s Should Be Replenished Not Released. The Corn & Ethanol ReportInflation Nation Everywhere. The Corn & Ethanol ReportRisk On – Risk Off Commodities 101. The Corn & Ethanol Report
