AgResource Breaking Analysis
Video Update – Dan Basse discusses market complexity.
Video Update – Dan Basse discusses market complexity.
The Mortgage Bankers Association reported that mortgage applications index was down 3.7% last week, with the refinance index down 10.7% for the week. At the same time, the MBA reported that the average rate on the 30-Year Mortgage increased 0.27% for the week, to 6.52%. This was the highest rate since October 2008. Compared to…
US corn, wheat and soybean export sales through the week ending Sep 15 all fell sharply from the previous week. The recent flood of Argentine soybean sales into the world market, aggressive South American corn offers, and massive Gulf wheat premiums to other origins are citied. Corn sales in the week ending Sep 15 totaled…
US existing home sales in August fell for the 12th consecutive month and were the lowest since May 2020 This marked the third consecutive month that sales were down by double digits and the second consecutive month that sales fell by 20%. Note in the chart that since the Great Recession of the mid-2000’s, that…
The August Producer Price Index came in right at expectations, up 8.7% higher than a year ago versus 9.8% higher in July. While the price index is increasing at a decreasing rate, the index was still at an all-time high for the month of August. There is a decent relationship between the PPI and the…
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