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We kicked off the day with MBA 30-Year Mortgage Rate, MBA Mortgage Applications, MBA Mortgage Market Index, MBA Mortgage Market Refinance Index, and MBA Purchase Index at 6:00 A.M., EIA Energy Stocks at 9:30 A.M., 17-Week Bill Auction at 10:30 A.M., 20-Year Bond Auction at 12:00 P.M., FOMC Minutes and 20-Year Bond Auction at 12:00 P.M., FOMC Minutes, and Jackson Hole Symposium at 1;00 P.M., and Dairy Products Sales & Milk Production at 2:00 P.M.

Canadians are bracing for a rail strike that could start later this week as labor unions and rail operators are apart on worker condensation. US and Canadian producer groups are appealing to Canadian President Trudeau to head off a strike. The Canadian National and Canadian Pacific Kansas City railroads have been unable to come to an agreement with their rail workers as the Canadian grain harvest is just starting in earnest. This could have “devastating consequences” to the North American economies Union Pacific warns. Meanwhile, Reuters reports industries that could take a hit on the stoppage, are fertilizers, trucking, coal. Crude oil, grains and other products (ALREADY MENTIONED),  and autos to name a few. Not great news for free economies bounced back from Covid, There was little inflation under the last administration and there was a good job market.

The grains are singing the same old song, now, with a rail strike throwing a curveball, which will effect every source of what we grow, what we think, what we eat. For the Farming Community at qt whole let’s nip this in the bud.

I will update you later on the Pro Farmer Crop Tour, but until Thursday, this what I’m trading. Fear not greed.

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