The Week Ahead: Feb. 16, 2025
— U.S./Russia officials plan summit groundwork in Saudi Arabia. Senior officials from the U.S. and Russia will meet in Saudi Arabia to prepare for a potential summit between President Donald Trump and Russian President Vladimir Putin aimed at ending the war in Ukraine, Bloomberg reports, citing sources familiar with the plans. The meeting seeks to lock in a summit date before Ramadan begins in March. National Security Advisor Michael Waltz and special envoy Steve Witkoff are expected to lead the U.S. negotiations, while Russia’s delegation will include Kremlin heavyweight Yuri Ushakov and top spymaster Sergei Naryshkin. Saudi National Security Adviser Musaed Al-Aiban, known for his experience in high-stakes diplomacy, will convene the talks in Riyadh. Notably, European officials appear to be excluded from preparations, and Ukrainian representatives — though invited — have expressed concern about being sidelined. Ukrainian President Volodymyr Zelenskyy stressed at the Munich Security Conference that Ukraine will not accept backroom deals. The Trump/Putin summit could take place as early as late February. However, plans remain fluid and subject to last-minute changes. — Trump aide suggests ‘payback’ for U.S. support to Ukraine, uncertainty over peace talks. National Security Advisor Mike Waltz said the U.S. deserves “payback” for its aid to Ukraine and suggested President Zelenskiy should accept a U.S.-offered rare-earth minerals deal. However, Waltz would not confirm Ukraine’s participation in upcoming U.S./Russia peace talks. Zelenskyy, backed by European leaders, insists Ukraine must be part of any negotiations. Meanwhile, Secretary of State Marco Rubio left the possibility of Ukraine’s involvement open, emphasizing the need for broader European participation. — European leaders to convene in Paris for emergency Ukraine talks amid U.S./Russia negotiation push. European leaders will meet in Paris on Monday for urgent talks about Ukraine’s security, Polish Foreign Minister Radoslaw Sikorski announced. The meeting, called by French President Emmanuel Macron after the Munich Security Conference, aims to unify Europe’s response to President Donald Trump’s intent to accelerate peace negotiations with Russia (see item above). Europe’s top diplomats view Trump’s willingness to scale back U.S. support for Ukraine as an existential threat to the continent’s stability. Meanwhile, the European Union’s chief diplomat, Kaja Kallas, is gathering foreign ministers in Munich to assess recent developments. As previously noted, U.S. and Russian officials are preparing for a potential leaders’ summit in Saudi Arabia to discuss ending the war, with European leaders and Ukrainian officials largely left out of the planning. Trump’s envoy, Keith Kellogg, stressed the importance of understanding Europe’s position but dismissed the idea of including European representatives in upcoming negotiations, citing “realism” as the reason. — USDA firings: The U.S. Forest Service, housed under USDA, fired over 2,400 employees, multiple news outlets reported, impacting around 10% of the agency’s workforce. The agency manages nearly 200 million acres of land, or about the size of Texas. The cuts come less than a week after the Senate overwhelmingly confirmed Brooke Rollins to lead USDA. Rollins will speak Tuesday at a Top Producer event in Kansas City. We will interview her after her public comments. More on gov’t employee firings below. — Trump launches Energy Dominance Council, expands offshore drilling and LNG exports. President Donald Trump signed an executive order on Friday creating a National Energy Dominance Council to increase U.S. oil and gas production, aiming to boost exports and cut regulatory barriers. He also lifted bans on offshore drilling and approved a major liquefied natural gas (LNG) project in Louisiana. The newly formed council, headed by Interior Secretary Doug Burgum, will streamline federal energy regulations and promote private-sector investments. Trump emphasized U.S. energy potential, referring to the nation’s reserves as “liquid gold,” while vowing to revive a canceled natural gas pipeline from Pennsylvania to New York. Energy Secretary Chris Wright announced conditional approval for Commonwealth LNG’s export project, which will produce 9.5 million tons of LNG annually by 2029. Trump’s efforts roll back former President Biden’s restrictions on LNG exports and offshore drilling, policies that Biden said were necessary for environmental protection. — Trump targets California’s gas car ban with congressional review push. The Trump administration took its first steps to dismantle California’s stringent car pollution regulations that mandate zero-emission vehicle sales. Environmental Protection Agency (EPA) Administrator Lee Zeldin announced the agency would submit air pollution waivers granted to California under the Biden administration to Congress for expedited review, aiming to repeal them. This move could roll back California’s Clean Cars II program, which bans gasoline-powered cars by 2035. Congressional Republicans will have the chance to use the Congressional Review Act to overturn the waivers, potentially undercutting similar standards adopted by other states. Carmakers have criticized the regulations as unachievable, while Trump and Zeldin framed the decision as a bid to lower costs for consumers. California’s Air Resources Board (CARB) maintains that EPA waivers are not subject to congressional oversight under the law, but Zeldin argues their nationwide impact warrants review. Background. The Congressional Review Act (CRA) grants the House and Senate the authority to reverse regulations and executive branch rules by a simple majority vote — if those rules were finalized in the last 60 legislative workdays. Lawmakers will likely have about four to six months to repeal certain regulations via the act. Republicans only need a simple majority to eliminate regulations under the CRA, not the higher threshold often required to pass the Senate. This means all four of Thune’s priorities are likely to pass. The last time Congressional Republicans held a trifecta, in 2017, they invalidated 16 regulations. Several other CRA actions are also making their way through the House, and would eventually require Senate approval. Of note: GOP lawmakers are also exploring other ways to roll back Biden’s regulatory footprint, should the deadline pass for CRA review. — Trump administration advances Texas oil export port approval. The Trump administration is set to approve Sentinel Midstream LLC’s Texas GulfLink Deepwater Port, which will handle up to 1 million barrels of oil per day, Transportation Secretary Sean Duffy announced. After five years of delays, the project will proceed under the direction of the Transportation Department’s Maritime Administration. Duffy emphasized the port’s strategic role in U.S. energy exports, despite objections from environmental groups citing significant greenhouse gas emissions. While former President Biden’s EPA granted approval for the GulfLink project last year, environmental activists argue it undermines efforts to combat climate change. Located off Brazoria County, Texas, the GulfLink terminal would accommodate very large crude carriers (VLCCs), loading up to 85,000 barrels per hour. — Trump administration revives LNG exports, reversing Biden-era policies. Energy Secretary Chris Wright issued the Trump administration’s first liquefied natural gas (LNG) export authorization for the Commonwealth LNG project in Cameron Parish, Louisiana. The facility will have an export capacity of 1.2 billion cubic feet per day as part of a broader strategy to expand fossil fuel development and roll back the Biden administration’s focus on renewables. “Today marks one of many steps that DOE will be taking to assure our future as a reliable energy supplier,” said Wright, a former fracking CEO. Alongside Interior Secretary Doug Burgum, Wright has taken early steps to boost oil and gas production, including expanding federal lands available for fossil fuel projects. The approval follows a reversal of the Biden-era pause on new LNG exports, which was based on concerns about rising wholesale prices and market volatility. American LNG exports surged after Russia’s 2022 invasion of Ukraine, with the U.S. stepping in to supply Western Europe as it moved away from Russian energy imports. — EPA chief moves to reclaim $20 billion in Biden-era green bank grants. EPA Administrator Lee Zeldin announced plans to revoke $20 billion in clean-energy grants awarded by the Biden administration under the 2022 Inflation Reduction Act (IRA/Climate Act). The grants, part of the Greenhouse Gas Reduction Fund (commonly called the “green bank”), were aimed at supporting thousands of climate and environmental justice projects. Zeldin criticized the program as wasteful and vowed to eliminate what he called “far-left activist spending.” The green bank initiative had targeted underserved communities through grants to nonprofits and community development banks. Republicans have long opposed the program, calling it a “slush fund.” Clean energy advocates, however, denounced Zeldin’s move as unconstitutional and pledged to challenge it in court. |
| WASHINGTON FOCUS |
The House is in recess, but the Senate is in session.
— If House members visit their districts, they will likely hear about constituent anxiety about recent government employees’ firings and the halt to payments for some programs farmers and others signed up for but have not received promised funding.
Some 9,500 federal workers have been fired, while around 75,000 have taken Trump’s buyout offer.
The frozen/stalled payments is one of the key issues USDA Secretary Brooke Rollins is going to “wrap her arms” around. We may get an update on Tuesday morning when she will provide comments at a Top Producer event in Kansas City via a fireside chat with Sen. Roger Marshall (R-Kan.). They will then take questions from the audience. AgriTalk’s Chip Flory and U.S. Farm Report’s Tyne Morgan will interview Rollins shortly after her address to the summit. Link to agenda at summit.
On Friday, Rollins was in Louisville, Kentucky, at the National Farm Machinery Show. On Monday, Rollins will be in Plains, Kansas, for a roundtable with Kansas GOP Sens. Roger Marshall and Jerry Moran and Rep. Tracey Mann (R-Kan.).
— Rollins appeared on Larry Kudlow’s show Friday. During the interview, Rollins addressed several key points:
· Egg crisis and food prices. Secretary Rollins acknowledged the ongoing issue of high egg prices, which have reached over $9 a dozen in some states. She emphasized that addressing grocery prices is one of President Trump’s top priorities, along with securing the border and avoiding new wars. Rollins stated that she had already been briefed on the avian flu situation, which has significantly impacted egg costs. Link to our special report on the topic.
· Causes of high food prices. Rollins pointed out that the high food prices were not solely due to the avian flu but also attributed them to:
— Regulations and rules implemented by the previous Biden administration
— Increased costs of inputs for farmers
· Plans for USDA. Rollins outlined her vision for USDA:
— Efficiency and alignment: She welcomed Elon Musk’s team to audit the USDA, emphasizing the need for efficiency across the department’s 106,000 employees and 29 divisions.
— Policy shifts: Rollins stated that climate policies would no longer hold the “first seat at the table” and that DEI (Diversity, Equity, and Inclusion) would no longer be a primary driver of policy.
— Customer-focused approach: She emphasized that the USDA should serve its customers (farmers and ranchers) rather than the other way around.
Personal background. Rollins mentioned that she is apparently the first Texan and the first Texas A&M graduate (“Aggie”) to hold the position of U.S. Agriculture Secretary.
Secretary Rollins expressed confidence in President Trump’s commitment to protecting and elevating the agricultural community, stating that every decision made would ensure prosperity for farmers and ranchers.
— The next Trump budget shoe to fall: Word is that some departments and agencies will likely be told to pare around 8% of their budget for fiscal year 2026, which begins Oct. 1.
— EPA fires nearly 400 workers amid federal government shakeup. The Environmental Protection Agency (EPA) terminated 388 employees as part of a broader federal purge led by Elon Musk’s Department of Government Efficiency. The agency justified the dismissals as part of a review process aligned with President Trump’s executive orders, targeting probationary workers.
Union leaders and environmental advocates condemned the move, warning it would weaken the agency’s ability to regulate key sectors, including air and water quality.
The EPA firings follow broader cuts across federal agencies, including the Department of Energy, where 2,000 workers were let go. The reductions come after the closure of the EPA’s environmental justice office last week, which affected 168 employees.
Impact: Crop protection industry has numerous concerns related to this as it could be more difficult to get products registered and impact the flow of applications for registration.
Whoops: Trump officials fired more than 300 at the Dept. of Energy not realizing they manage the U.S. nuclear stockpile. Most if not all were rehired.
— Absent a bipartisan funding deal for fiscal year (FY) 2025, the federal government “shuts down” March 15th. Any spending bill will need to find common ground among factions that fundamentally don’t agree: Fiscal Hawks, Defense Hawks, Border Hawks, Progressives, anti-DOGE Democrats (aka Democrats), representatives of states needing disaster relief and the White House. The following charts are from Bruce Mehlman. They deal on shutdowns, past and potential.
History shows that the financial and economic impact tends to be very short lived. The chart below looks at market impacts (Strategas):
— 2025 world cotton outlook: Economic challenges persist amid weak demand. The National Cotton Council’s economic outlook for 2025 paints a challenging picture for the U.S. cotton industry, with several key factors influencing the market:
Reduced Acreage and Production
U.S. cotton acreage is projected to decrease by 14.5% to 9.6 million acres in 2025, reflecting the economic pressures faced by growers. The harvested area is estimated at 7.8 million acres, with an abandonment rate of 18.4%. This is expected to result in a cotton crop of 13.9 million bales, including 13.5 million upland bales and 392,000 ELS bales. Link for details.
Economic Pressures and Market Conditions
Growers are facing a third consecutive year of unfavorable market returns and an inadequate farm safety net. Cotton prices have experienced the largest decline compared to other commodities, leading to lower price ratios of cotton to corn and soybeans.
Global Consumption and Trade
World cotton consumption is projected to increase by 1.7% to 117.9 million bales in the 2025-26 marketing year. Global trade is expected to rise to 44.2 million bales, driven by expanded consumption in key importing countries. However, Brazil is anticipated to remain the largest exporter for the third consecutive year.
U.S. Exports and Stocks
The projected increase in world consumption and larger U.S. supply are expected to boost U.S. exports compared to 2024/25. Despite this, U.S. ending stocks are projected to increase to 5.2 million bales in 2025-26.
Domestic Textile Manufacturing
U.S. mills are expected to consume 1.73 million bales in 2025-26, slightly up from 1.70 million bales in 2024/25. However, domestic textile manufacturing remains under pressure due to weaker Western Hemisphere trade and increased textile imports under de minimis provisions.
Global Production and Stocks
World cotton production is estimated to decline to 117.2 million bales in 2025-26 due to a slight reduction in harvested acreage and lower yields. Global ending stocks are projected to decrease to 77.7 million bales.
Economic Uncertainties
The outlook is subject to potential impacts from increased geopolitical tensions and changes in trade policy. As an export-oriented industry, the U.S. cotton sector is particularly vulnerable to tariffs and shifts in the global trade landscape.
Additional details of the 2025 Cotton Economic Outlook are on the NCC’s website at http://www.cotton.org/econ/reports/annual-outlook.cfm.
| OTHER EVENTS & HEARINGS |
Monday, Feb. 17
· Washington’s birthday. George Washington’s Mount Vernon holds an event to celebrate the 293rd birthday of George Washington.
· USDA Secretary Brooke Rollins will be in Plains, Kansas, for a roundtable with Kansas GOP Sens. Roger Marshall and Jerry Moran and Rep. Tracey Mann (R-Kan.).
Tuesday, Feb. 18
· USDA Secretary Brooke Rollins speaks at a Top Producer summit in Kansas City, Mo.
· U.S. foreign assistance. Brookings Institution virtual discussion on “What Americans think about foreign assistance: Findings from a new public opinion survey.”
· Food additives. US Codex Office meeting of the Codex Alimentarius Commission’s Codex Committee on Food Additives.
· AI and Saudi Arabia. Atlantic Council virtual discussion on “The Role of Artificial Intelligence in Transforming Saudi Arabia’s Economic Landscape,” focusing on the role of female entrepreneurs.
· India outlook. Center for Global Development virtual discussion on “India@100: India’s Path Toward an Advanced Economy.”
· Russia/Ukraine war. Atlantic Council virtual discussion on “How long can Russia sustain its aggression in Ukraine?”
· WTO Trade Dialogue on Food. “AgTech & Global Trade: Bridging the Future of Agriculture.”
· FTC and antitrust reform. Federalist Society for Law and Public Policy Studies virtual discussion on “Antitrust and FTC Reform in the New Congress.”
· Trump administration outlook. Center for Strategic and International Studies discussion on “U.S. Allies and Partners under the Trump Administration.”
· AI and financial stability. Council on Foreign Relations virtual discussion on “the potential impacts of artificial intelligence on financial stability and the regulatory considerations surrounding it.”
Wednesday, Feb. 19
· Nomination hearing: Labor. Senate Health, Education, Labor and Pensions Committee hearing on the nomination of Lori Chavez-DeRemer to be Labor secretary.
· Section 301 review. U.S. Trade Representative meeting on 2025 Special 301 Review, which is an annual review of the global state of intellectual property.
· Permitting process. Senate Environment and Public Works Committee hearing on “Improving the Federal Environmental Review and Permitting Processes.”
· South Korea situation. Center for Strategic and International Studies virtual discussion on “Implications of South Korea’s Political Crisis for Foreign Policy.”
· Sustainable energy. Business Council for Sustainable Energy and BloombergNEF press briefing on the release of the 2025 Sustainable Energy in America Factbook.
· AI and globalization. Brookings Institution virtual discussion on “Globalizing perspectives on AI safety.”
· Spectrum auctions. Senate Commerce, Science and Transportation Committee hearing on “America Offline? How Spectrum Auction Delays Give China the Edge and Cost Us Jobs.”
· War in Ukraine. Quincy Institute for Responsible Statecraft virtual book discussion on “Spirals: The Ukraine War and the Toppling of the World.”
· 119th Congress. The R Street Institute virtual discussion on “Navigating the 119th Congress: What Business Leaders Need to Know.”
· Rural internet. Technology Policy Institute discussion on “Universal Service at an Inflection Point: Broadband Equity, Access and Deployment (BEAD) Program, Rural Utilities Service (RUS), and Beyond.”
· Colorado River. Environmental and Energy Study Institute virtual briefing on “The Colorado River,” focusing on strategies for improving the resilience and restoring the health of the river.
Thursday, Feb. 20
· Nomination vote: Education. Senate Health, Education, Labor and Pensions Committee markup to vote on the nominations of Linda McMahon to be Education secretary, and other calendar business.
· Nomination hearing: Transportation. Senate Commerce, Science and Transportation Committee hearing on the nomination of Steven Bradbury to be deputy Transportation secretary.
· Nomination hearing: OMB, Homeland Security. Senate Homeland Security and Governmental Affairs Committee hearing on the nominations of Troy Edgar to be deputy Homeland Security secretary; and Dan Bishop to be deputy director of the Office of Management and Budget.
· Black farmer settlement. Brookings Institution discussion on “Denied No More,” focusing on how the National Black Farmers Association secured a $2.2 billion payout for discrimination in farm lending USDÅ.
· China, Russia, Iran and North Korea. U.S./China Economic and Security Review Commission hearing on “An Axis of Autocracy? China’s Relations with Russia, Iran, and North Korea.”
· Foreign nationals and DOE labs. Senate Energy and Natural Resources Committee hearing on “Research Security Risks Posed by Foreign Nationals from Countries of Risk Working at the Department of Energy’s National Laboratories and Necessary Mitigation Steps.”
· Trump foreign policy. German Marshall Fund of the United States virtual discussion on “A Foreign Policy Memo for the New U.S. Administration.”
· Governors summit. Politico hosts its 2025 Governors Summit.
· Geothermal. Atlantic Council discussion on “Geothermal: Unlocking America’s Untapped Energy Potential.”
· Fentanyl scheduling. Senate Judiciary Committee markup of S 331, to amend the Controlled Substances Act with respect to the scheduling of fentanyl-related substances.
· South Korean turmoil. Peterson Institute for International Economics virtual discussion on “South Korea’s Economy Amid Political Turmoil.”
· Tax reform. Cato Institute briefing on “Tax Reform for Fundamental Health Reform: The Missing Piece in the Budget Fight.”
· Global energy agenda. Atlantic Council Global Energy Center discussion on “Setting the Global Energy Agenda for 2025.”
· Inflation and monetary policy. Georgetown University McCourt School of Public Policy holds the 2025 Whittington Lecture on “the run-up of inflation in the post-pandemic period, its recent decline and critical lessons learned, and the current stance on monetary policy.”
· Governors meeting. National Governors Assn. 2025 Winter Meeting.
Friday, Feb. 21
· USMCA issues. Washington International Trade Association virtual discussion on unresolved issues under the United States-Mexico-Canada Agreement.
· Trump-Ishiba meeting. Henry L. Stimson Center virtual discussion on “Trump and Ishiba Meet for the First Time — What Comes Next?”
· Transatlantic policy. Georgetown University holds the 2025 Transatlantic Policy Symposium, with the theme “New Era, New Europe? Europe’s Bargain in a Changing World.”
· Antitrust issues. George Mason University Law Review 28th annual Antitrust Symposium, with the theme “Antitrust Cornucopia: AI, Ad Tech, Content Moderation, & What’s Next?”
· Russian war in Ukraine. George Washington University Elliott School of International Affairs discussion on “What Drives Russians to Support the War?”
| ECONOMIC REPORTS & EVENTS |
Fed minutes in focus amid accelerating inflation signals. The release of Fed minutes on Wednesday afternoon will be the key economic event of the week. With a light calendar, markets will have time to process recent labor and inflation data. February’s reports have shown a robust labor market and rising inflation, pushing 1-year and 2-year inflation swaps to their highest levels since March 2023. The minutes are expected to reflect a moderately hawkish tone, consistent with January’s FOMC press conference. While the Fed is likely to emphasize the restrictive nature of current policy and its desire for further progress on inflation, market data and financial conditions suggest otherwise. If this message is reinforced, bond markets could see bear steepening, with long-end yields climbing higher.
Monday, Feb. 17
· Holiday: U.S. markets and government offices are closed for Presidents Day
· Federal Reserve. Fed Governor Michelle Bowman delivers Brief Remarks on the Economy, and Bank Regulation at the American Baners Association Conference for Community Bankers in Phoenix, Arizona; Fed Governor Christopher Waller speaks on the Economic Outlook in Sydney, Australia. Philadelphia Fed President Patrick Harker scheduled to speak.
Tuesday, Feb. 18
· Federal Reserve. Fed Vice Chair for Supervision Michael Barr delivers remarks on Artificial Intelligence in the Economy and Financial Stability at an event in New York. San Francisco Fed President Mary Daly scheduled to speak.
· Empire State Manufacturing
· Housing Market Index
Wednesday, Feb. 19
· Federal Reserve. Fed Vice Chair Philip Jefferson speaks on Household Balance Sheets in Poughkeepsie, New York.
· Housing Starts
· Atlanta Fed Business Inflation Expectations
· FOMC Minutes
Thursday, Feb. 20
· Federal Reserve. Fed Vice Chair for Supervision Michael Barr delivers remarks on Supervision and Regulation in Washington, DC; Fed Governor Adriana Kugler speaks on Navigating Inflation Waves while Riding on the Phillips Curve at an event in Washington, DC. Chicago Fed President Austan Goolsbee, St. Louis Fed President Alberto Musalem scheduled to speak.
· Jobless Claims
· Philadelphia Fed Manufacturing
· Leading Indicators
· Fed Balance Sheet
· Money Supply
Friday, Feb. 21
· Federal Reserve. Fed Vice Chair Philip Jefferson speaks on Central Bank Communication at a Fed conference in San Francisco, California.
· PMI Composite Flash
· Existing Home Sales
· Consumer Sentiment
| KEY USDA & INTERNATIONAL AG & ENERGY REPORTS & EVENTS |
Tuesday brings a USDA report on Agricultural Projections to 2034. One can’t take them too seriously when it’s hard to peg what will happen in a week, let alone out that far, and especially with the recent topsy-turvy events in the U.S. and around the world.
Of note: Those projections to 2034 are the Budget baseline numbers that align to October. They ARE NOT the most current outlook for 2025 that will be released at the end of the month at USDA’s annual outlook meetings.
Energy focus: More major energy companies — including Occidental, Cheniere and EDF — will report earnings during the week. Energy-related conferences include the EGYPES event in Cairo.
Monday, Feb. 17
Ag reports and events:
· Gulfood conference, Dubai, day 1
Energy reports and events:
· EGYPES energy conference, Cairo; runs through Wednesday
· Earnings: Galp; Tupras
· Holiday: U.S., Canada, Libya
Tuesday, Feb. 18
Ag reports and events:
· National Oilseed Processors Association’s monthly crush report
· EU weekly grain, oilseed import and export data
· Gulfood conference, Dubai, day 2
· Evoke AG conference, day 1, Brisbane
· Global Grain and Pulses Forum, Dubai
· Export Inspections
· Sugar and Sweeteners Outlook
· Livestock, Dairy, and Poultry Outlook
· USDA Agricultural Projections to 2034
· Chickens and Eggs - Annual
Energy reports and events:
· International Petroleum Technology Conference, Kuala Lumpur; runs through Thursday
· Earnings: Occidental, Devon Energy
Wednesday, Feb. 19
Ag reports and events:
· Gulfood conference, Dubai, day 3
· Evoke AG conference, day 2, Brisbane
· Commodity Trading Week APAC (Feb. 19-20)
· Earnings: Nutrien, CF Industries
· Food Expenditure Series
· Vegetables and Pulses Data
· Fruit & Tree Nut Data
· Broiler Hatchery
Energy reports and events:
· API US inventory report
· Asia Pacific Nuclear Energy 2025 (APNE 25), Tokyo; runs through Thursday
· International Petroleum Technology Conference, Kuala Lumpur; runs through Thursday
· IEF-IEA-OPEC Symposium in Riyadh
· Genscape weekly crude inventory report
· WTI CSOs for March expire
· Earnings: Orano
Thursday, Feb. 20
Ag reports and events:
· Malaysia’s Feb. 1-20 palm oil exports
· Gulfood conference, Dubai, day 4
· Commodity Trading Week APAC (Feb. 19-20)
· IGC grains market report
· Slaughter Weekly
· Livestock Slaughter
Energy reports and events:
· EIA Petroleum Status Report
· Weekly Ethanol Production
· EIA Natural Gas Report
· Singapore onshore oil product stockpile weekly data
· WTI March futures expire
· Earnings: Repsol, Cenovus Energy, Cheniere
Friday, Feb. 21
Ag reports and events:
· FranceAgriMer weekly crop conditions report
· Gulfood conference, Dubai, day 5
· CFTC Commitments of Traders
· Export Sales
· Poultry Slaughter
· Cattle on Feed
· Milk Production
· Peanut Prices
Energy reports and events:
· ICE weekly Commitments of Traders report for Brent, gasoil
· Baker-Hughes Rig Count
· Earnings: EDF, Mol
| KEY DATES IN FEBRUARY |
17: Presidents Day; U.S. gov’t and market holiday
21: Univ. of Michigan Consumer Sentiment | Existing Home Sales | USDA Cattle on Feed
25: Consumer Confidence | USDA Food Price Outlook
27: Durable Goods Orders | GDP | USDA Outlook Forum | Outlook for U.S. Agricultural Trade report
28: Personal Income and Outlays (PCE Price Index) | International Trade in Goods | USDA Outlook Forum concludes
| LINKS |
Economic aid for farmers | Disaster aid for farmers | Farm Bureau summary of aid/disaster/farm bill extension | 45Z tax incentive program | Poultry and swine line speeds | U.S./China Phase 1 agreement | WASDE | Crop Production | USDA weekly reports | Crop Progress | Food prices | Farm income | Export Sales weekly | ERP dashboard | RFS | IRA: Biofuels | IRA: Ag | SCOTUS on WOTUS | SCOTUS on Prop 12 pork | Gov’t payments to farmers by program | Farmer working capital | USDA Ag Outlook Forum | Eggs/HPAI | NEC task force on HPAI, egg prices | Trump tariffs | Greer responses to lawmakers | Trump reciprocal tariffs |