There are many similarities between the U.S. and EU, but many differences as well. When the common currency euro was introduced in 1999, it was valued at the equivalent of $1.16. It hit a peak of €/$1.58 in 2008 but has since slid back and is currently at €/$1.07. The forecast has it rising to €/$1.11 near the end of this year and then sliding lower. The exchange rate is important, particularly for trade in higher value food products. The determinants of that rate are complex and imprecise. One factor should be core interest rates. The European Central Bank has hiked interest rates but is a full percentage point behind the U.S. federal funds rate. Just as the Federal Reserve could hike again, so could the ECB.
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What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
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