Biden Nixes GOP Infrastructure Counteroffer, More Talks Ahead

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WASDE on Thursday | Manchin will oppose Democrats' major voting rights bill

 


Washington Focus


 

White House press secretary Jen Psaki said on Friday that President Joe Biden rejected Sen. Shelley Moore Capito's (R-W.Va.) counterproposal to add about $50 billion, to $978 billion, in spending to the GOP's infrastructure package but that he will meet with Capito again on Monday for more talks.

     Of the $978 billion in the GOP’s counteroffer, just $307 billion of that would be new spending — well short of Biden’s demand for $1 trillion in new federal investments beyond what is projected under existing programs.

     Biden, in a call with Capito on Friday, indicated that “he would continue to engage a number of senators in both parties in the hopes of achieving a more substantial package,” Psaki said. As Biden has negotiated with the half-dozen Republicans led by Capito, the White House has expressed growing interest in the efforts of a separate, bipartisan group of lawmakers that includes Democratic Sens. Joe Manchin of West Virginia and Jon Tester of Montana, along with Republican Sen. Mitt Romney of Utah. They have been working on a fallback proposal should talks with Capito fail. Romney is no longer what most would consider a conservative Republican so the impact of his negotiations on this topic are unclear.

     Biden, who leaves this week for a seven-day trip to Europe (link to Biden op-ed about his plans), also spoke Friday with Rep. Peter DeFazio (D-Ore.), chairman of the House Transportation and Infrastructure Committee, which this week is set to begin work on a five-year, $547-billion plan for roads, mass transit and rail projects. DeFazio’s bill does not include all the new spending Biden wants nor the broader investments in programs for workers and families the president has proposed as “social infrastructure.” But it could serve as a foundation for Biden’s plans.

     Regarding a timeline, House Speaker Nancy Pelosi (D-Calif.) has said she wants the House to vote on an infrastructure bill by July 4. She had asked House Transportation Committee Chair Rep. Peter DeFazio (D-Ore.) and other Democrats on relevant committees to work on legislative proposals while Biden negotiated with the few Senate Republicans. DeFazio has introduced a surface transportation bill that would spend $547 billion over five years on roads, bridges and public transport. The package would allocate $343 billion for road and bridge construction and highway safety, $109 billion for transit and $95 billion for railways. The legislation would also attempt to change rules on how states and transportation agencies can use such funding by prioritizing environmental goals, something that will likely be a big hurdle for Republicans. The current package doesn't provide details on how the funding is paid for.

     Another infrastructure dispute is over how to pay for the infrastructure investments. Biden had Initially proposed to raise the corporate tax rate from 21% to 28%, but Republicans said that was a nonstarter. They countered by proposing new user fees and redirecting money from the $1.9-trillion coronavirus relief package enacted in March. The White House rejected both ideas, especially the user fees, given Biden’s campaign promise that Americans earning less than $400,000 annually wouldn’t pay more taxes. In his meeting Wednesday with Capito, Biden suggested another funding alternative: a 15% minimum tax on corporations, raising revenue from businesses that currently pay little or no income taxes. Though that would avert Republicans’ “red line” — they refuse to consider reversing the corporate tax breaks they enacted in 2017 — they have yet to indicate any openness to Biden’s latest idea.

     Sen. Joe Manchin (D-W.Va.) on Sunday said he is “very confident” that Republicans and the White House will reach an agreement on an infrastructure bill. “There's a lot that's been done with the Covid bills that we put out that basically overlap in some areas of infrastructure, but there's a lot more that needs to be done. And I think we can come to that compromise to where we'll find a bipartisan deal. I'm very, very confident of that,” Manchin told host Chris Wallace on Fox News Sunday.

     But there is still “a lot of daylight” between the GOP and Dem infrastructure approaches. “There are a lot of conversations going on among a lot of members of the Senate and over on the House side. On Wednesday there's going to be a markup for a key element of infrastructure policy. So, lots going on right now, but still lots of daylight, honestly, between us and our Republican friends,” Transportation Secretary Pete Buttigieg told host John Dickerson on CBS’s Face the Nation.

     Sen. Lindsey Graham (R-S.C.) on an infrastructure deal: “If Biden can’t pull this off, he’s not trying, because there’s a bunch of Republicans like me that would do an infrastructure bill around a trillion dollars. This is a layup if he wants it. So, if we don’t have one by the end of the summer, it’s because President Biden gave in to the left.”

The Senate will begin the week by completing a bipartisan package aimed at helping give the U.S. a competitive edge over China in science and technology, after last-minute disputes forced a delay in the final vote. Of note to the ag sector will be whether or not the final package includes online country-of-origin labeling (COOL) language pushed by Sens. Tammy Baldwin (D-Wis.) and Rick Scott (R-Fla.).

Manchin to vote against Democrats' election bill and again says he does not support altering filibuster language. Sen. Manchin will vote against the Democrats' election bill, the For the People Act, calling it "the wrong piece of legislation to bring our country together." During an interview on Fox News Sunday with Chris Wallace, Manchin confirmed his vote against the bill, citing an op-ed (link) he wrote for the Charleston Gazette-Mail that laid out his concerns on the legislation. "I think it's the wrong piece of legislation to bring our country together and unite our country, and I'm not supporting that because I think it would divide us further. I don't want to be in a country that's divided any further than I'm in right now. I love my country, and I think my Democrat and Republican colleagues feel the same," he told Wallace. "I think there's a lot of great things I agree in that piece of legislation, but there's an awful lot of things that basically don't pertain directly to voting," he added. Manchin said that protecting the right to vote should not be done in a partisan manner, adding that it has become overly politicized. The legislation appears unlikely to attract the bipartisan 60 votes needed to overcome a Senate filibuster, or the 50 votes necessary to pass if the party decides to use the nuclear option. 

 


Hearings and Events This Week


 

The Senate Finance Committee will hold a hearing on the Internal Revenue Service fiscal 2022 budget on Tuesday. President Joe Biden has pushed doubling the IRS workforce over the next decade and to increase the agency's funding by $80 billion in an effort to catch tax cheats and help pay for his ambitious spending plans.

Colonial Pipeline Co. Chief Executive Joseph Blount will testify before the Senate and House Homeland Security committees on Tuesday and Wednesday, respectively. Blount told the Wall Street Journal that while he knew his decision to authorize a $4.4 million ransom payment — made in bitcoin — to the Russian hacking group responsible was "highly controversial," he did so because "it was the right thing to do for the country." The House and Senate hearings will provide lawmakers with a chance to question that decision as other companies face similar dilemmas. President Biden signed an executive order last month to push the federal government to improve its digital defenses, and last week, Federal Bureau of Investigation Director Christopher Wray said his agency is investigating nearly 100 different types of ransomware and compared the recent cyberattacks to the challenges of the 9/11 terrorist attacks.

EPA funding hearing Wednesday. The Senate Appropriations Subcommittee on Interior, Environment and Related Agencies will consider the Biden administration's fiscal year 2022 budget request for the Environmental Protection Agency at a hearing Wednesday. Under Biden's proposal, the agency would receive a 24.1% increase in funding for core rule-writing and enforcement programs and a 7.5% bump to hire more employees. The overall budget for the EPA would increase 21.6% from its current spending plan and would be the largest budget in the agency's history.

Monday, June 7

  • Nuclear Energy Nuclear Energy Assembly. Monday through Wednesday. The virtual event will focus on future energy and climate policy and nuclear energy's role in reaching decarbonization goals. The event is set to feature speeches from Energy Secretary Jennifer Granholm, Rita Baranwal, the DOE's former assistant secretary for nuclear energy, and Bill Gates, founder and chairman of TerraPower, which made news recently with the announcement that it will build a first-of-its-kind advanced nuclear reactor demonstration project in Wyoming.
  • Food supply chain. American University Sine Institute of Policy and Politics virtual discussion on "Working Towards a Resilient Food Supply Chain," part of the "Re-Imagining America: Next Steps in the Covid-19 Response" series.
  • Covid origins. Brookings Institution virtual discussion on "Why Understanding the Origin of Covid-19 is Essential for Policymakers: Discussing Future Regulations to Prevent Pandemics."
  • FY 2022 budget: State Department. House Foreign Affairs Committee hearing on "The State Department's Foreign Policy Strategy and FY 2022 Budget Request” with Secretary of State Antony Blinken.
  • FY 2022 budget: State Department. House Appropriations State, Foreign Operations and Related Programs Subcommittee hearing on "Department of State and Related Programs FY 2022 Budget Request” with Secretary of State Antony Blinken.
  • Mexico midterm elections. Woodrow Wilson Center conference call briefing on "Mexico's Mid-Term Elections."
  • Southeast Asia fishing, maritime law. Center for Strategic and International Studies and the University of the Philippines virtual discussion on "Oceans of Opportunity: Southeast Asia's Shared Maritime Challenge, Session One," focusing on marine conservation, fisheries management and maritime law.
  • Health care. HHS Secretary Xavier Becerra and AARP CEO Jo Ann Jenkins virtual discussion on "Increased Benefits for Older Americans Through the American Rescue Plan."
  • Oceans and the Great Lakes. House Science, Space and Technology Environment Subcommittee hearing on "Defining a National 'Oceanshot': Accelerating Ocean and Great Lakes Science and Technology."
  • Global recovery. Global Situation Room news conference on "Equitable Global Recovery” at the National Press Club.
  • G7 and NATO summits. Center for Strategic and International Studies conference call briefing on "Previewing the G7 and NATO Summits."

Tuesday, June 8

  • FY 2022 budget. Senate Budget Committee hearing on "The President's FY 2022 Budget Proposal” with acting OMB Director Shalanda Young.
  • Colonial Pipeline cyberattack. Senate Homeland Security and Governmental Affairs Committee hearing on "Threats to Critical Infrastructure: Examining the Colonial Pipeline Cyber Attack."
  • Rural transit issues. Senate Banking, Housing and Urban Affairs Housing, Transportation, and Community Development Subcommittee hearing on "Rural Transit: Opportunities and Challenges for Connecting Communities."
  • U.S./China competition. Senate Armed Services Committee hearing on "The United States' strategic competition with China."
  • U.S./EU summit. German Marshall Fund of the United States virtual discussion on "Priorities for a U.S./EU Summit."
  • Inflation. American Enterprise Institute for Public Policy Research virtual discussion on "Is Inflation Back?"
  • FY 2022 budget: State Department. Senate Appropriations Committee hearing on "A Review of the FY 2022 State Department Budget Request” with Secretary of State Antony Blinken.
  • FY 2022 budget: State Department. Senate Foreign Relations Committee hearing on "Review of the FY 2022 State Department Budget Request” with Secretary of State Antony Blinken.
  • Biden/Putin meeting preview. American University (AU) virtual media briefing on the first Biden/Putin meeting and the upcoming NATO, U.S./EU and G7 summits.
  • Expanding the G7. Atlantic Council virtual discussion on “From the G7 to a D10: Can a New Coalition of Democracies Solve Today's Global Challenges?" focusing on adding Australia, India, South Africa and South Korea to the G7.
  • Coast Guard maritime issues. Coast Guard teleconference of the National Navigation Safety Advisory Committee, including a discussion on matters relating to maritime collisions, rammings, and groundings.
  • FY 2022 budget: VA. House Veterans' Affairs Committee hearing on "U.S. Department of Veterans Affairs Budget Request for FY 2022” with Veterans Affairs Secretary Denis McDonough.
  • FY 2022 budget: HHS. House Ways and Means Committee hearing on "The President's Proposed FY 2022 Budget with the Department of Health and Human Services” with HHS Secretary Xavier Becerra.
  • FY 2022 budget: Commerce. House Energy and Commerce Consumer Protection and Commerce Subcommittee hearing on the FY 2022 budget request for the Commerce Department with Commerce Secretary Gina Raimondo.
  • Interior, Energy nominees. Senate Energy and Natural Resources Committee hearing on the nominations of Tracy Stone-Manning to be director of the Bureau of Land Management; Shalanda Baker to be director of the Energy Department's Office of Minority Economic Impact; Samuel Walsh to be general counsel in the Energy Department; and Andrew Light to be an assistant Energy secretary for international affairs.
  • FY 2022 budget: IRS. Senate Finance Committee hearing on "The IRS' FY 2022 Budget” with IRS Commissioner Charles Rettig.
  • U.S., China and the Middle East. Middle East Institute virtual discussion on "International Relations and the Middle East: U.S., China and Regional Powers."
  • Biden trip to Europe. Woodrow Wilson Center's Global Europe Program and Kennan Institute virtual discussion on "Biden's First International Trip: Expectations and Realities."
  • Low-carbon future. Politico virtual briefing on "The Path to a Low-Carbon Future."
  • Global energy outlook. Resources for the Future virtual discussion on "The Global Energy Outlook: Pathways from Paris."
  • National climate bank. Environmental and Energy Study virtual discussion on "Unlocking Capital for Climate Solutions: The Benefits of a National Climate Bank."
  • Green U.S./EU relations. German Marshall Fund of the United States virtual discussion on "Green Atlanticism? Green Views on the Future of Transatlantic Relations," focusing on Germany's September elections and the impact on US-Europe relations.
  • FY 2022 budget: UN. House Appropriations State, Foreign Operations and Related Programs Subcommittee hearing on "United Nations FY 2022 Budget Request” with U.S. Ambassador to the UN Linda Thomas-Greenfield.

Wednesday, June 9

  • Colonial Pipeline cyberattack. House Homeland Security Committee hearing on "Cyber Threats in the Pipeline: Using Lessons from the Colonial Ransomware Attack to Defend Critical Infrastructure."
  • Minority farmer issues. USDA Office of Partnerships and Public Engagement teleconference of the Advisory Committee on Minority Farmers, including a discussion on USDA outreach, technical assistance, and capacity building for and with minority farmers; Implementation of the Socially Disadvantaged and Veteran Farmer and Rancher Grant Program (2501 Program); Methods of maximizing the participation of minority farmers and ranchers at USDA; and Mechanisms for best providing advice to the Secretary on the issues outlined above.
  • FY 2022 budget. House Budget Committee hearing on "The President's FY 2022 Budget” with acting OMB Director Shalanda Young.
  • FY 2022 budget: U.S. Army Corps of Engineers. Senate Appropriations Energy and Water Development Subcommittee hearing on "A Review of the FY 2022 Budget Submission for the U.S. Army Corps of Engineers, and the Bureau of Reclamation."
  • Climate financing. Atlantic Council virtual discussion on "Financing the Future: The Economics of Climate Transition."
  • Drones. Association for Unmanned Vehicle Systems International and the Federal Aviation Administration hold the FAA UAS (Unmanned Aircraft Systems) Symposium.
  • Biden tax plans. Urban-Brookings Tax Policy Center and the North Carolina Tax Center virtual discussion on "What Are the Effects of the Biden Administration's Corporate Tax Proposals?"
  • Climate change and Indonesia. Henry L. Stimson Center virtual discussion on "Climate Change in Indonesia."
  • Appropriations’ member day. House Appropriations Committee hearing on "Member's Day."
  • Ag futures and derivatives. Commodity Futures Trading Commission teleconference of the Agricultural Advisory Committee, including a report from the Subcommittee to Evaluate Commission Policy with Respect to Implementation of Amendments to Enumerated Agricultural Futures Contracts with Open Interest (Ag-OI); and Discussion on global agricultural commodity derivatives contracts and other agricultural risk management issues.
  • Electoral count act. American Enterprise Institute for Public Policy Research virtual discussion on "Should We Amend or Abolish the Electoral Count Act?"
  • Foreign direct investment. Center for Strategic and International Studies virtual discussion on "Explaining the Drop in Global Foreign Direct Investment (FDI)."
  • Transatlantic trends. German Marshall Fund of the United States (GMFUS) holds a virtual discussion on "Transatlantic Trends 2021."
  • Energy issues. Department of Energy teleconference of the Electricity Advisory Committee, June 9-10, including on carbon emissions relative to hydrogen, batteries and natural gas.
  • International trade and investment. International Trade Administration teleconference of the United States Investment Advisory Council including updates on work in identifying and deliberating on policy priorities regarding the facilitation of foreign direct investment into the United States.
  • FY 2022 budget: DOJ. Senate Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee hearing on "A Review of the President's FY 2022 Funding Request for the U.S. Department of Justice” with Attorney General Merrick Garland.
  • Small businesses. Senate Small Business and Entrepreneurship Committee hearing on "Review of the Small Business Investment Company Program."
  • Digital currencies and central banks. Senate Banking, Housing and Urban Affairs Committee hearing on "Building A Stronger Financial System: Opportunities of a Central Bank Digital Currency."
  • Covid-19. House Foreign Affairs International Development, International Organizations and Global Corporate Social Impact Subcommittee hearing on "United States Leadership in the International Response to the COVID-19 Pandemic."

Thursday, June 10

  • FY 2022 budget: FDA. Senate Appropriations Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Subcommittee hearing on "FY 2022 Budget Request for the Food and Drug Administration” with acting FDA Commissioner Janet Woodcock.
  • Issues in Xinjiang. Senate Foreign Relations East Asia, the Pacific and International Cybersecurity Policy Subcommittee and Western Hemisphere, Transnational Crime, Civilian Security, Democracy, Human Rights, and Global Women's Issues Subcommittee joint hearing on "Atrocities in Xinjiang: Where Do We Go from Here?"
  • Child Nutrition reauthorization. House Education and Labor Civil Rights and Human Services Subcommittee hearing on "Ending Child Hunger: Priorities for Child Nutrition Reauthorization."
  • U.S./EU summit trade issues. Washington International Trade Association virtual discussion on "The U.S./EU Summit — What's at Stake on Trade?"
  • FY 2022 budget: Treasury International Programs. House Appropriations State, Foreign Operations and Related Programs Subcommittee hearing on "Department of the Treasury International Programs FY 2022 Budget Request” with Treasury Secretary Janet Yellen.
  • FY 2022 budget: HUD. Senate Transportation, Housing and Urban Development, and Related Agencies Subcommittee hearing on "A Review of the President's FY 2022 Funding Request and Budget Justification for the U.S. Department of Housing and Urban Development” with HUD Secretary Marcia Fudge.
  • Investor issues. Securities and Exchange Commission teleconference of the Investor Advisory Committee.
  • Farm Credit situation. Farm Credit Administration teleconference of the board including receiving the Quarterly Report on Economic Conditions and FCS Condition and Performance.
  • Pediatric COVID vaccines. Food and Drug Administration teleconference of the Vaccines and Related Biological Products Advisory Committee to discuss, in general, data needed to support authorization and/or licensure of Covid-19 vaccines for use in pediatric populations.
  • China nuclear forces. U.S./China Economic and Security Review Commission webcast on "China's Nuclear Forces."
  • FBI oversight. House Judiciary Committee hearing on "Oversight of the Federal Bureau of Investigation."
  • FY 2022 budget: HHS. Senate Finance Committee hearing on "The President's FY 2022 HHS Budget” with HHS Secretary Xavier Becerra.
  • Energy issues. United States Energy Association virtual discussion on "Substation Protective Relay Conversion from Analog to Digital Technology."
  • Electric issues. Energy Department teleconference of the Electricity Advisory Committee, including issues on electric vehicle integration.
  • China trade issues. Information Technology and Innovation Foundation virtual discussion on "Innovation Drag: The Impact of Chinese Economic and Trade Policies on Global Innovation."
  • Rural health care. Rural Health Information Hub virtual discussion on "the economic impacts of rural healthcare sectors on rural, state, and national economies."
  • Small contractors and the infrastructure plan. House Small Business Contracting and Infrastructure Subcommittee hearing on "Utilization of Small Contractors in the Infrastructure Plan."
  • Cyberattacks. Government Executive Media Group virtual discussion on Cyber Hygiene: Reducing the Risk of Cyber Attacks with Data and Automation."
     

Friday, June 11

  • President Joe Biden will attend the G7 Summit, which runs from June 11 to June 13, in Cornwall, England.
  • Climate-resilient communities. House Select Climate Crisis Committee hearing on "Building Climate Resilient Communities."
  • Strengthening U.S. cybersecurity. The American Enterprise Institute for Public Policy Research (AEI) holds a virtual discussion on "Strengthening U.S. Cybersecurity in the Digital Age."
  • Transatlantic relations. Brookings Institution virtual discussion on "Back to What? Trans-Atlantic Relations in the Biden Era."
  • Economic statistics. Bureau of Economic Analysis teleconference of the Federal Economic Statistics Advisory Committee on statistical methodology and other technical matters related to the collection, tabulation, and analysis of federal economic statistics.
  • Voting restrictions. House Administration Elections Subcommittee hearing on “Voting in America: The Potential for Polling Place Quality and Restrictions on Opportunities to Vote to Interfere with Free and Fair Access to the Ballot."
  • U.S. energy issues. Environmental and Energy Study Institute virtual discussion on "Modernizing America's Transmission Network," as part of the series on "Modernizing the U.S. Energy System: Opportunities, Challenges, and the Path Forward."
  • Border security. House Homeland Security Oversight, Management and Accountability Subcommittee hearing on "Enhancing Border Security: Addressing Corruption in Central America."
     

Economic Reports for the Week



No Federal Reserve Board events are scheduled ahead of the Federal Open Markets Committee meeting on June 15-16.  The big number to watch this week in economic data is the Consumer Price Index (CPI), out on Thursday. The CPI report will be a crucial data set for the Federal Reserve in front of the upcoming policy meeting. Economists forecast CPI will be up 4.7% for May compared to last year after rising 4.2% in April. Quarterly household wealth figures from the Fed are also due out on Thursday.

Monday, June 7

  • Federal Reserve reports consumer credit data for April. In March, total outstanding consumer credit rose at a seasonally adjusted annual rate of 7.4%, to $4.24 trillion. Last year, consumer credit fell for the first time since 2009, as parts of the economy shuttered due to the pandemic.

Tuesday, June 8

  • National Federation of Independent Business releases its Small Business Optimism Index for May. Consensus estimate is for a 100.5 reading, slightly higher than April’s 99.8 figure.
  • Bureau of Labor Statistics (BLS) releases the Job Openings and Labor Turnover Survey for April. Expectations are for 8.1 million job openings on the last business day of April, roughly even with the March data. Job openings are at their peak since the data were first collected in December 2000.

Wednesday, June 9

  • MBA Mortgage Applications

Thursday, June 10

  • Jobless Claims
  • BLS reports the consumer price index for May. Economists forecast a year-over-year rise of 4.6%, after a jump 4.2% in April. The core CPI, which excludes volatile food and energy prices, is expected to gain 3.4%, compared with 3% in April. The 4.2% increase in April was the highest since the summer of 2008, and inflation has become a main topic on Wall Street.
  • Federal Reserve releases the first-quarter Financial Accounts of the U.S., which tracks household net worth. At the end of last year, total household net worth stood at an all-time high of $130.4 trillion, an increase of more than $12 trillion from 2019.Fed Balance Sheet
  • Money Supply
  • European Central Bank announces its monetary-policy decision. The ECB is widely expected to keep its short-term rate at negative 0.5%, but it might scale back its 1.85 trillion-euro pandemic emergency purchasing program.
     

Friday, June 11

  • University of Michigan releases its Consumer Sentiment Index for June. Consensus estimate is for an 83 reading, about even with the May figure.

 


Key USDA & international Ag & Energy Reports and Events 


 

Thursday brings USDA’s updated WASDE report and whether Ag Dept. analysts get closer to industry forecasts of Brazil’s corn crop (lower) and China’s corn imports (higher).

Monday, June 7

     Ag reports and events:

  • Export Inspections
  • Crop Progress
  • County Estimates: Poultry  
  • Initial release of China trade data (May)
  • EU weekly grain, oilseed import and export data
  • Holiday: Malaysia, New Zealand

     Energy reports and events:

  • Commodity Trading Week virtual summit, Geneva

Tuesday, June 8

     Ag reports and events:

  • Australian crop report
  • International Grains Council Conference, day 1
  • France agriculture ministry’s monthly crop estimates

     Energy reports and events:

  • API weekly U.S. oil inventory report
  • EIA Short-Term Energy Outlook

Wednesday, June 9

     Ag reports and events:

  • Broiler Hatchery
  • Livestock and Meat International Trade Data
  • U.S. Agricultural Trade Data Update
  • International Grains Council Conference, day 2
  • FranceAgriMer releases monthly grains report

     Energy reports and events:

  • EIA weekly U.S. oil inventory report
  • U.S. weekly ethanol inventories
  • Genscape ARA crude inventories

Thursday, June 10

     Ag reports and events:

  • Weekly Export Sales
  • Meat Price Spreads
  • WASDE
  • Crop Production
  • Cotton: World Markets and Trade
  • Grains: World Markets and Trade
  • Oilseeds: World Markets and Trade
  • World Agricultural Production
  • China’s agriculture ministry (CASDE) releases monthly report on supply and demand for corn and soybeans
  • Malaysian Palm Oil Board inventory, output and export data for May
  • Brazil’s Conab releases output, yield and acreage data for corn and soybeans
  • Port of Rouen data on French grain exports
  • Malaysia June 1-10 palm oil export data

    Energy reports and events:
     
  • EIA natural gas storage change
  • Insights Global report on European refined product inventories in ARA region
  • OPEC monthly oil-market report

Friday, June 11

     Ag reports and events:

  • CFTC Commitments of Traders report
  • Peanut Prices
  • Feed Grains Database
  • Season Average Price Forecasts
  • Wheat Data
  • Fresh Apples, Grapes, and Pears: World Markets and Trade
  • FranceAgriMer weekly update on crop conditions

     Energy reports and events:

  • Baker Hughes weekly U.S. oil/gas rig counts
  • IEA monthly oil market report
  • CPC loading program (July)
  • ICE weekly Commitments of Traders report for Brent, gasoil

 

 

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