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Tidbits, Economy & Politics, ENSO, Markets & Rain Days Update 3/29/23

Highlights


There is a growing sense of relief and optimism that the banking shock is abating, the Federal Reserve’s vice chairman for supervision, Michael Barr, and FDIC Chairman Martin Gruenberg told US lawmakers on Tuesday. They said that depositor funds in U.S. banks are safe and sound. The market believed them for at least one day. They also said tougher regulations will be forthcoming.

China announced it will ease regulatory crackdowns and support private enterprises’ that sent Chinese company shares traded on The New York Stock Exchange up 14% yesterday. Those same stocks lost nearly 70% since curbs were imposed in late 2020. An expanding economy is always good, especially when it is the number one buyer of USA agricultural products.

The Quarterly Hog & Pig Report will be released on Thursday, March 30th at 2:00 PM CST.

The Prospective Planting Report and Quarterly Grain Summary will be released on Friday, March 31st at 11:00 AM CST. The February revenue insurance favors corn over beans while the corn/bean ratio moved in favor of beans during the acreage survey period, which ended March 15th.

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