Highlights
Yesterday morning, USDA announced the sale of 196,000 mts of new crop soybeans to China.
Yesterday morning the government reported the Consumer Price Index (CPI, the measure of inflation at the retail level) was 8.5%, down from June’s 9.1%. The market expected 8.7%.
Crude oil recovered its losses yesterday afternoon to settle higher on the news that the Strategic Petroleum Reserve (SPR) inventory had declined 5.3 million barrels last week. Gasoline stocks were down about 5 million barrels.