Highlights
DTN lead analyst, Todd Hultman, said on August 12 during a webinar about S&D report:
“Speculators in the corn market have been encouraged to hold onto their short positions by the Federal Reserve Board, which is trying to keep prices in check by increasing interest rates…
You would think we’re getting down to the lows here somewhere, but technically of course we’re not seeing any signs of that just yet.”
Here is Sean Pratt’s summary for the webinar.
The Consumer Price Index (CPI) was released yesterday morning showing the past 12 months retail inflation rate was 2.9%. The market expected 3.0%. The July CPI was up 0.2%, as expected. That would be an annual rate of 2.4%. The Fed’s target is 2%.
One media reported: "CPI continues to the trend of declining prices coming in at up 2.9% year-on-year."
Don’t fall for that! Prices do not decline, prices continue to increase, but less intensively, as inflation is above zero.