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Tidbits, Export Sales, Markets & Rain Days Update 4/14/23

Highlights


The US Producer Price Index (PPI) for March came in yesterday a negative number, meaning inflation at the wholesale level was actually deflation for the first time since May 2020. Deflation is caused by a poor economy and scares politicians and bankers alike. It is also a very good reason to reduce interest rates.

CBOT prices turned lower yesterday when the rumor hit the market news that Mexico had bought 500,000 mts of Russian wheat.

China imported 7.9% more soybeans last month than in March a year ago. That would be 6.85 million mts.

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