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Tidbits, Inflation, Presidential Elections in Russia, China's Сancellations, Export Sales 3/15/24

Highlights


Presidential elections have begun in Russia, voting will last 3 days. There are 4 candidates running in the election. According to the latest data, the level of support for Putin before the election was 82%.

 

Tidbits


Allendale’s farmer survey has US plantings of:

  • Corn at 93.5 mil acres, down 1.2% from 2023 (USDA 91.0)

  • Soybeans at 85.8 mil acres, up 2.7% (USDA 87.5)

  • Wheat at 47.6 mil acres, down 3.9% (USDA 47.0)

 

The Producer Price Index (PPI), the measure of inflation at the wholesale level, was reported yesterday morning up 0.6% for February, double the 0.3% expected. A reason to not lower or raise interest rates to control inflation.

 

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