Tidbits, Q&A: Corn Weakness, Inflation, Brazil DDGs 5/14/25
- Wright team
- 14 minutes ago
- 6 min read
Tidbits
The U.S. crude oil inventory increased by 4.29 million barrels in the reporting week ending 9 May, a sharp reversal from the prior week's 4.49 million-barrel draw, according to the American Petroleum Institute. The markets expected a 2.4 million-barrel decline. None-the-less, West Texas Intermediate (WTI) crude oil futures were up $1.72 a barrel yesterday.
The Bureau of Labor Statistics yesterday morning reported the annual inflation rate at the retail level declined to 2.3% in April, down from 2.4% in March and below the analysts’ expectation 2.4%. This is the third consecutive monthly drop and the lowest reading since February 2021. The Federal Reserve’s inflation target is an annual rate of 2%. The Producer Price Index will be issued tomorrow. It is the measure of inflation at the wholesale level. The market expects it to reflect an annual inflation rate of 2.4%.
U.S. President Donald Trump urged the Federal Reserve to cut interest rates, claiming that prices for gas, groceries, and nearly everything else are declining, and criticized Fed Chair Jerome Powell, suggesting it's too late and unfair to America. Trump emphasized that Europe and China have already lowered rates, advocating for similar action to support economic growth. But the recent import tariffs is certainly a pro-inflationary factor.
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