Tidbits, Export Sales, Markets & Rain Days Update 2/17/23

The CBOT, postal service and banks will be closed Monday for Presidents’ Day.

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Highlights

Yesterday morning Russia launched missile strikes across a wide area of Ukraine.

The Producer Price Index yesterday morning was reported to be up 6.0% for the previous year. The market was looking for an increase of 5.4%; this means more tightening of the money supply.

Federal Reserve Chairman Jerome Powell said yesterday there is an urgent need to reduce wages and increase unemployment to control inflation. Yes, Ladies and Gentlemen, this is the guy in charge of managing the world's largest economy.

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