This week, virtually everything went up — all commodities (agricultural and financial), real estate, wages, stock market, bonds, foreign currencies, lumber, sugar, even cryptocurrencies. The Labor Department released the Consumer Price Index on Tuesday, which showed the biggest 12-month price jump since August of 2018. ...

Corn blasted to its highest levels since 2013 with export demand and fears of the potential for hot, dry weather in the Corn Belt in coming weeks. On Friday morning, the USDA released a supply vs. demand report indicating that ending stocks were below expectations for both the U.S. and the whole world. May corn traded on Friday at $5.82 per bushel, up 20 cents from last week. December corn was at $4.98, up 10 cents from last week. May soybeans for delivery traded at $14.07...

Farmers were loving the U.S. Department of Agriculture Wednesday for reporting an unexpected drop in acreage to be planted with corn and soybeans. The shockingly low planting estimates could result in a severe shortage of both crops if any weather problems develop, such as if it’s either too cold or wet during planting, or too hot and dry during mid-summer, or too cold or wet at harvest time. ...

The Suez Canal—which connects Europe to Asia—is blocked by a ship run aground. Specialist dredgers are attempting to dig it out. Nine billion dollars in goods typically travel through the canal each day. With marine traffic at a standstill, crude oil spiked. ...

Petroleum’s horrendous tumble this week began Monday, fueled by a strong U.S. dollar and general concerns about slackening demand. The decline gained momentum on Wednesday as the International Energy Agency (IEA) reported an inventory build of 2.4 million barrels of crude. Thursday morning, the crash accelerated by $6 per barrel on worries the AstraZeneca vaccine rollout in Europe would reduce demand further, especially from the transportation sector...

For the first time, our new administration will be testing the waters on many issues with the world’s biggest nation and fastest-growing economy. President Biden’s challenges will be to encourage trade and economic cooperation while remaining vigilant regarding any military or financial threats. ...

Along with several OPEC members, Russia announced they would keep their production cuts, adding fuel to the sharp rally in place since last May. World oil demand has been recovering as the pandemic has been subsiding. A decline of several million barrels per day in Texas and nearby states during the snowstorm and record-breaking cold has also energized the rally. ...

President Biden made his first foray into foreign trade by meeting virtually with Canadian Prime Minister Trudeau last week. Our northern neighbor is one of our biggest trade partners. Most of their exports come to the U.S., as we’re a wealthy, hungry and ready buyer. ...

Virtually every sector of agriculture, energy and many financial markets were impacted or even demolished by an arctic blast that ran through the Southwest. Temperatures throughout the region were as much as 35 degrees below average for several days...

You might not think of plants growing in distant lands when you’re wooing your valentine, but farmers are likely thinking of you. The cacao tree is a robust crop for the Ivory Coast and Ghana. So strong that together, they produce about two-thirds of the world’s cocoa. ...

Silver prices began the week with the biggest single-day explosion in ten years, only to tumble midweek as Wall Street and internet speculators on GameStop stock and options created massive swings and attention from regulators. GameStop shares crashed 60% in one day—their largest decline ever—and pulled silver prices along for the ride. As of midday Friday, March silver recovered to $27.05. February gold was trading at $1810, down $30 per ounce compared to last Friday...

Early in the week, huge sales of corn and beans were announced to China. The largest grain sale ever was reported early Friday AM, including over two million tons of corn and 200 million gallons of ethanol, breaking all records. The week’s total corn sale of over 6.2 million tons also exceeded all records. Corn for March delivery traded at $5.47 per bushel as of noon Friday, up 45 cents compared to last week...

On Tuesday morning, we saw a sharp rise in stock indexes, metals, and energy markets. This came as our new Secretary of the Treasury, Dr. Janet Yellen, testified before lawmakers about how the U.S. risks a more prolonged and more painful recession unless Congress approves more aid. ...

Moscow announced Friday morning that Russia is considering imposing a wheat export tax of $27 per ton to help stabilize domestic prices. A downgrade of the Russian crop size was at the center of the decision as Russia’s wheat crop is in poor condition. ...

Pfizer’s announcement that their COVID-19 vaccine tests indicated over 90-percent effectiveness opened the week with a flurry of buying in gasoline, diesel fuel, stock index futures, lumber, cattle, copper and cocoa. “Risk on” trades benefited from optimism that employment, and our U.S. ...

Gasoline futures shifted midweek from an upward bias to a downhill direction as record positive coronavirus cases plagued several European countries and U.S. states...

Wednesday’s U.S. Department of Agriculture report sent soybeans sailing higher as estimates of this year’s stockpile of beans came in under expectations. Continued good export sales and dry weather in most of the U.S. and much of Brazil contributed to the bullish sentiment as farmers and investors watch weather for further clues to the next big move...

Hog prices shot to a three-month high on Friday, trading over 60 cents per pound for the first time since May. Pork is getting pricier as foreign buyers, especially China, look to the U.S. to supply their meat demand. China lost millions of pigs last year to an epidemic, African swine fever, leaving them facing a pork shortage...

Commodities markets sprang to life this year, with unprecedented moves in crude oil, precious metals, lumber, and livestock prices. Although most of the initial volatility was directly related to coronavirus shutdowns, markets have continued wild action as global economies grapple with climate and political turbulence...

The huge rally in wood prices gained further momentum all week as quarantined homeowners ran to big box stores and lumberyards clamoring for supplies for framing fix-up projects. Building supply stores have been designated as essential businesses, remaining open throughout the pandemic...