The Week Ahead: Dec. 8, 2024
— Damascus falls: Turning point in Syria’s history. After 13 years of civil war, rebel fighters claimed victory in Syria, ending President Bashar al-Assad’s authoritarian rule. The rebels stormed Damascus over the weekend, encountering minimal resistance as government forces abandoned their posts. Assad has reportedly fled the country, though his location remains unconfirmed. Rebels declared Syria “free of the tyrant” through state television, while the prime minister announced plans for a transitional government. Across the city, residents celebrated the end of the Assad regime, though the future remains uncertain. The rebels, led by Hayat Tahrir al-Sham, a controversial group with a complicated past, now face the daunting task of governance and rebuilding. Meanwhile, millions of displaced Syrians may contemplate returning to their homeland. Of note: The rapid collapse of the regime could create a dangerous vacuum with spillover effects into other countries. — Trump calls for immediate ceasefire in Russia/Ukraine war after meeting Zelenskyy. Donald Trump urged an “immediate ceasefire” in the Russia/Ukraine war, calling for negotiations to “stop the madness” after meeting Ukrainian President Volodymyr Zelenskyy in Paris. Sharing his stance on Truth Social, the president-elect said, “Zelenskyy and Ukraine would like to make a deal,” emphasizing that Russian President Vladimir Putin and China could play crucial roles in brokering peace. Zelenskyy responded by insisting on “effective guarantees” to ensure lasting peace, while Kremlin spokesman Dmitry Peskov reiterated Russia’s willingness to negotiate based on prior agreements and current battlefield realities. Both sides stressed that a durable solution must address underlying issues to avoid a resurgence of conflict. — South Korean presidential impeachment vote fails amid ruling party boycott. An attempt to impeach South Korean President Yoon Suk Yeol failed on Dec. 7 due to a ruling party boycott that left the National Assembly short of the required two-thirds majority. The vote followed Yoon’s controversial declaration of martial law earlier in the week, sparking nationwide protests and political turmoil. Despite the failure, opposition leaders vowed to continue efforts to impeach Yoon, accusing him of undermining democracy. The ruling People Power Party signaled a potential orderly exit for Yoon, though the president retains office for now. Mass protests in sub-zero temperatures underscored public anger, with calls for Yoon’s resignation echoing through Seoul’s streets. The crisis deepens divisions in South Korea’s political landscape, evoking memories of past military rule and political upheavals. — Trump acknowledges tariffs may raise consumer prices. In an interview on Meet the Press, President-elect Donald Trump admitted he “can’t guarantee” that his proposed tariffs on imported goods will not raise costs for American families. Despite warnings from economists and major companies like Walmart and Black & Decker about potential price increases, Trump defended tariffs as an economic and diplomatic tool. Trump highlighted tariffs as a means to address trade imbalances and leverage in geopolitical disputes, claiming they have “stopped wars.” He recently threatened tariffs on Canada and Mexico to push for stricter controls on migration and illegal drugs, citing discussions with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum Pardo. Economists remain critical of Trump’s sweeping tariff plans, warning of higher consumer costs and inflation. However, Trump dismissed these concerns, arguing tariffs will incentivize domestic production. — Trump confirms no plans to replace Fed Chair Powell. President-elect Donald Trump stated on NBC’s Meet the Press that he does not intend to replace Federal Reserve Chair Jerome Powell as he prepares to return to the White House. Trump remarked, “I don’t see it,” while also asserting that Powell would likely resign if asked but wouldn’t if merely requested. Powell, who has emphasized the Fed’s independence, previously declared he would not step down even if Trump demanded it, reiterating that the president lacks authority to fire him. Trump has criticized Powell in the past over interest rate policies but downplayed their role, calling it “the greatest job in government” and mocking its perceived simplicity. Despite past friction, Powell has expressed confidence that tensions with the incoming administration will remain minimal. — Trump signals first-day actions in NBC interview. In his first post-election network interview, President-elect Donald Trump told Kristen Welker on NBC’s Meet the Press that he plans immediate action on various issues once inaugurated in 43 days, including “first day” consideration of pardons for those convicted in connection with the Jan. 6 Capitol attack. Trump emphasized swift action, stating, “We’re going to look at individual cases, but I’m going to be acting very quickly.” Immigration policies: Pledged to deport families with mixed immigration statuses, stating, “You keep them together, and you have to send them all back.” Trump expressed willingness to work with Democrats to address the status of Dreamers. Questions about retribution. A big topic facing Trump is whether he will use the Justice Department to go after critics and political rivals, something he has previously spoken about. In his interview with NBC, Trump indicated he would not explicitly order his appointees to go after his rivals, even as he continued to attack special counsel Jack Smith and again suggested lawmakers who investigated the Jan. 6, 2021, attack on the Capitol, like former Rep. Liz Cheney (R-Wyo.), should be in jail. When asked about Kash Patel, his choice to lead the FBI, who has spoken about the need to target the “deep state,” Trump said: “If they think that somebody was dishonest or crooked or a corrupt politician, I think he probably has an obligation to do it,” Trump said. He similarly said he would leave it up to his nominee for attorney general, Pam Bondi, to determine whether to prosecute figures like special counsel Jack Smith, who led the investigations into Trump in recent years. “I will say this, no, I’m not doing that unless I find something that I think is reasonable, but that’s not going to be my decision,” Trump said. “That’s going to be Pam Bondi’s decision, and, to a different extent, Kash Patel, assuming they’re both there, and I think they’re both going to get approved.” Trump offered his support for Robert F. Kennedy Jr., his choice to lead the Department of Health and Human Services (HHS). Kennedy is likely to be grilled over his anti-vaccine rhetoric and other controversial views on raw milk and fluoride. Trump, in the interview, said Kennedy would look into any connection between vaccines and autism, even though there is no evidence of a link between the two. “He’s not going to upset any system,” Trump said of Kennedy. “He’s not looking to reinvent the wheel totally. But when you look at the numbers, we really don’t have a very healthy country.” On other issues, Trump said he would not raise the age requirement for Social Security or Medicare, that he was inclined to leave access to abortion pills as is, and that he agreed the federal minimum wage was a “low number.” He also left open the possibility of replacing ObamaCare “if we find something better,” and suggested the U.S. could look to leave the NATO alliance if other members do not increase their contributions to defense spending. Bottom line: Trump framed his plans as aggressive yet aimed at fostering unity, stating his inaugural address would promote success as a unifying force. — Dec. 11 is the deadline for states to confirm their Nov. 5 election results with what’s known as Certificates of Ascertainment. Slates of electors from the 50 states and Washington, DC, meet the following week to officially cast the 538 Electoral College votes. — Trump plans executive order on birthright citizenship. President-elect Donald Trump’s transition team is preparing drafts of an executive order to limit automatic U.S. citizenship for those born in the country, the Wall Street Journal reports. Trump has pledged to tackle this issue on day one of his second term, aiming to revise federal agency documentation processes and deter “birth tourism.” The proposal, requiring at least one parent to be a U.S. citizen or legal resident for a child to gain citizenship, faces constitutional challenges, as birthright citizenship is rooted in the 14th Amendment and affirmed by the Supreme Court in 1898. Critics argue such changes would require a constitutional amendment, while Trump’s allies see legal battles as part of the strategy to push the issue to the Supreme Court. — IRS eases biogas tax credit rules, boosting industry prospects. The IRS has finalized new rules simplifying the energy investment tax credit for renewable natural gas and biogas projects. These changes address ownership requirements that previously hindered many projects from qualifying for the 30% credit, fostering confidence in early-stage developments. The adjustments also allow for easier sale and monetization of these credits, alleviating market freezes caused by earlier uncertainties. While this development benefits projects already in the pipeline, those still awaiting financing may struggle to meet the Dec. 31 deadline to qualify under the current credit regime. — RFK Jr.'s potential impact on food policy as HHS secretary. Robert F. Kennedy Jr.'s confirmation as the head of the Department of Health and Human Services (HHS) could spotlight his food policy agenda, despite concerns over his vaccine skepticism, Time magazine reports (link). Kennedy’s advocacy against ultra-processed foods, harmful additives, and corporate influence in food production has garnered bipartisan support and praise from public health experts. As HHS Secretary, Kennedy would oversee federal dietary guidelines and food safety regulations, potentially reshaping national nutrition standards. He has proposed banning artificial dyes, restricting pesticides, and removing processed foods from schools. Critics, however, point to his controversial positions, including support for raw milk and opposition to fluoridated water, as potential challenges to his confirmation. Kennedy’s agenda faces resistance from some in the food industry, budget constraints, and his divisive public health views, which could complicate his efforts to enact reforms. The Senate confirmation process will test whether his food policy ambitions can outweigh widespread skepticism of his broader health views. |
| WASHINGTON FOCUS |
The week ahead is set to be a busy one for the House and Senate as they approach the end of the 118th Congress. Here are the key items on their agenda:
• Fiscal year (FY) 2025 appropriations. The House schedule does not show any specific plans for FY 2025 appropriations. With the current Continuing Resolution (CR) set to expire on Dec. 20, it appears likely that another CR will be passed, extending funding into March 2025.
• National Defense Authorization Act (NDAA). The House plans to take up the FY 2025 National Defense Authorization Act this week. The NDAA is considered a “must-pass” bill, and Congress has successfully passed it every year since 1961. Lawmakers unveiled a bipartisan compromise, approving $883.7 billion in defense spending as requested by President Joe Biden. The bill features substantial pay raises for military personnel — 4.5% across the board, with an additional 10% for the lowest-ranking troops — and improvements in quality-of-life areas like childcare, housing, and medical services. The $883.7 billion measure adheres to the 2023 debt ceiling law’s budget cap, disappointing some senators who sought higher spending. Amendments targeting gender-transition procedures, abortion-related reimbursements, and affirmative action in military decisions were excluded. Weaponry: Plans include establishing an East Coast anti-missile interceptor site and restricting procurement of F-35 jets pending improvements. The House will vote on the bill this week, with Senate approval expected before the holidays.
There are only two weeks left in the 118th Congress, with planned adjournment on Dec. 19 and 20.
A 2018 Farm Bill extension is widely expected to be part of the CR. Still murky is if farm-state lawmakers will be able to convince leadership to include an ag finance aid package as part of some must-pass legislation. Also of note will be whether lawmakers will include any boost in reference prices, a development that would mean a higher farm bill budget baseline when they try again to reach consensus on a new farm bill in 2025.
— House GOP prepares to select key committee chairs amid leadership transitions. House Republicans are set to appoint new chairs for influential committees, crucial to advancing President-elect Trump’s agenda under a GOP-controlled government. While many positions are uncontested, some key committees, like Energy and Commerce and Financial Services, are seeing competitive races due to term limits and retirements. The GOP’s internal rules limit chairs to three consecutive terms, contrasting with Democrats’ longer leadership tenures.
— New senators sworn in. California Sen.-elect Adam Schiff and New Jersey Sen.-elect Andy Kim are set to be sworn into office. Schiff, who resigned from the House over the weekend, won a special election in November to complete the late Sen. Dianne Feinstein’s term and begin a six-year term in January. Similarly, Kim won a special election to succeed former Democratic Sen. Bob Menendez.
— Senate in new Congress: More work. The 2025 Senate calendar marks a sharp increase in workdays, with 179 scheduled session days compared to just 102 in 2024. That means more than a few Friday workdays. Incoming Senate Majority Leader John Thune (R-S.D.) is driving this shift, emphasizing a return to regular order and stricter rules, such as eliminating indefinite vote holds. The Senate will focus heavily on Cabinet nominations early in the year, with the first recess not until mid-March.
— Brad Weddelman named chief economist for Senate Ag Committee Republicans. Senate Ag Committee Ranking Member John Boozman (R-Ark.) has appointed Brad Weddelman as the chief economist for committee Republicans. “Brad’s background in economics will play a crucial role as the committee develops and advances policies to strengthen rural America,” Boozman stated. Weddelman previously served as chief economist at an agricultural advocacy firm and worked with Texas A&M University’s Agricultural and Food Policy Center. He holds a Master of Science in agricultural economics from Texas A&M and an undergraduate degree from the University of Toledo. For the past seven years he has been the economist for ag consulting firm Combest-Sell.
Writing about Weddelman’s departure from the firm, Combest-Sell wrote: “Brad hails from northwest Ohio, earning an undergraduate degree before earning his master’s degree in agricultural economics under the tutelage of the great Dr. Joe Outlaw. We came to know Brad because he was always in tow when Dr. Outlaw ventured to Washington or to meetings around the country of importance to agriculture.Brad has an extraordinary gift for economic and budget analysis, for budget modeling, and for policy development based on the needs criteria presented to him. He is also dogged in understanding legislative and regulatory details down to the minutia in order to fully understand their impacts, a trait he has used so many times with such alacrity in correcting the flaws in programs that would otherwise have shortchanged producers.Brad never complains about anybody or anything, nor is he bothered when he’s given a hard time, virtues he attributes to his mother who disabused him early in life of complaining or being thrown off by a good-natured or not-so-good-natured jab in his direction. Brad is constant. He was a great credit to our firm, and we are confident he will be a great credit to Senator Boozman and the Senate Agriculture Committee as well as to all of American agriculture. We know he will continue to do great things and we are proud of him and his achievements.”
— USDA launches national milk testing program to combat H5N1 outbreak in dairy cows. USDA announced a mandatory milk testing program to track the spread of the H5N1 bird flu virus in dairy herds across the United States. Beginning with six states — California, Colorado, Michigan, Mississippi, Oregon, and Pennsylvania —the initiative will expand nationwide. The effort seeks to pinpoint infections, inform containment strategies, and protect farmers and farmworkers.
As of Dec. 6, California remains the hardest hit, with 506 of the 720 infected herds nationwide. The program has faced resistance from dairy farmers concerned about identifying affected farms, but experts stress the urgency due to the virus’s potential to mutate and spark a pandemic. Pasteurization is known to neutralize the virus, but raw milk from infected cows contains high viral loads, posing risks to animals and potentially humans.
Bottom line: This move marks a critical step in addressing a crisis that has drawn criticism for its perceived lack of urgency and transparency.
| OTHER EVENTS & HEARINGS |
Monday, Dec. 9
· Ukraine outlook. Council on Foreign Relations discussion on “Ukraine’s strategic position in the war with Russia, and evaluate how the incoming Donald Trump administration could influence Ukraine’s international relations and policies.”
· Development finance and climate. Center for Global Development virtual discussion on “Unlocking Development Finance for Solutions to Internal Displacement in the Context of Disasters and Climate Change.”
Tuesday, Dec. 10
· CFTC meeting, including on climate issues. Commodity Futures Trading Commission meeting of the Market Risk Advisory Committee. Agenda includes: Central counterparty risk and governance; Market structure; Climate-related risk; and Innovative and emerging technologies affecting the derivatives and related financial markets, including discussions led by the Central Counterparty Risk & Governance and Market Structure subcommittees with recommendations related to CCP cyber resilience and critical third-party service providers and the cash futures basis trade, respectively
· Election reform. American Enterprise Institute for Public Policy Research book discussion on “Electoral Reform in the United States: Proposals for Combating Polarization and Extremism.”
· Economic outlook. Aspen Institute discussion on “Strengthening America’s Economic Dynamism.”
· Immigration and law enforcement. House Homeland Security Emergency Management and Technology Subcommittee hearing on “Given the Green Light: Open Border Policies and Threats to Law Enforcement.”
· Postal Service oversight. House Oversight and Accountability Committee hearing on “Oversight of the U.S. Postal Service.”
· Mass deportation. Senate Judiciary Committee hearing on “How Mass Deportations Will Separate American Families, Harm Our Armed Forces, and Devastate Our Economy.”
· Pro-Hamas protests. House Natural Resources Oversight and Investigations Subcommittee hearing on “Desecrating Old Glory: Investigating How the Pro-Hamas Protests Turned National Park Service Land into a Violent Disgrace.”
· Review of 2024 elections. Election Assistance Commission meeting to discuss the 2024 Election, focusing on election security, contingency planning, and serving voters, as well as voting on the appointment of a general counsel.
· Drones. Hoes Homeland Security Counterterrorism, Law Enforcement, and Intelligence Subcommittee and Transportation and Maritime Security Subcommittee joint hearing on “Safeguarding the Homeland from Unmanned Aerial Systems.”
· U.S. foreign economic policy. Peterson Institute for International Economics (PIIE) holds a discussion on “Implications of a new U.S. foreign economic policy.”
· Fiscal challenges ahead. Committee for a Responsible Federal Budget discussion on “2025: The Fiscal Challenges Ahead.”
· Sustainable transportation. Axios discussion on “Scaling Sustainable Transportation.”
Wednesday, Dec. 11
· Senate outlook. R Street Institute holds a virtual discussion on “Advice and Consent: The Senate in Trump’s Second Term.”
· New members of Congress. The Hill holds a “Meet the New Members” of Congress event.
· U.S. financial crisis. House Budget Committee hearing on “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis.”
· Trump tariffs. Washington International Trade Association virtual Mini Intensive Trade Seminar on “what we might expect to see in the next Trump Administration on tariff policy.”
· Leadership summit. Reuters leadership summit part of the “Reuters Next” series, International Monetary Fund Managing Director Kristalina Georgieva delivers keynote remarks
· Carbon Capture Panel. Energy Department virtual meeting of the Carbon Dioxide Capture, Utilization, and Sequestration Federal Lands Permitting Task Force and the Carbon Dioxide Capture, Utilization, and Sequestration Non-Federal Lands Permitting Task Force for presentations on task forces’ progress on the Utilizing Significant Emissions with Innovative Technologies (USE IT) Act duties.
· Financial weaponization. Competitive Enterprise Institute summit on “Financial Weaponization.” Securities and Exchange Commission Commissioner Hester Pierce delivers remarks.
· Afghanistan withdrawal. House Foreign Affairs Committee hearing on “An Assessment of the State Department’s Withdrawal from Afghanistan by America’s Top Diplomat.” Secretary of State Antony Blinken to testify.
· FAA reauthorization. House Transportation and Infrastructure Aviation Subcommittee hearing on “FAA Reauthorization Act of 2024: Stakeholder Perspectives on Implementation.”
· Global view of US elections. FiscalNote virtual discussion on “U.S. Election Results Through the Global Lens: Impacts and Implications.”
· Energy outlook. United States Energy Association virtual media briefing on “Distributed Energy Resources (DER) and Virtual Power Plants: The Easiest Supply Boost.”
· Infrastructure Advisory panel. Homeland Security Department virtual meeting of the President’s National Infrastructure Advisory Council.
· China human rights issues. Hudson Institute discussion on “Sanctioned Voices: Spotlighting China’s Global Repression.”
· Trump administration handoff. Meridian International Center discussion on “America in Transition: Navigating Leadership Changes and the Trump Administration Handoff.”
Thursday, Dec. 12
· Farm impacts and opportunities. Farm Foundation virtual forum on “Tax Year 2025: Potential Impacts and Opportunities for Farmers and the Agriculture Sector.”
· Farm credit economic conditions. Farm Credit Administration meeting to discuss quarterly report on economic conditions and Farm Credit System condition and performance and semiannual report on Office of Examination operations.
· South Korea situation. Center for Strategic and International Studies virtual discussion on “What Happened in South Korea?”
· U.S./China relations. Peterson Institute for International Economics virtual discussion on “U.S./China Relations and Economic Outlook.”
· Ukraine economic recovery. Center for Strategic and International Studies discussion on “Strengthening Ukraine’s Economic Recovery and Reconstruction: Looking Back and Planning Forward.”
· Trump and Asia, Pakistan. Asia Society Policy Institute virtual discussion on “Trump’s Second Act: What It Means for Asia and Pakistan.”
· U.S./Canada relations. Wilson Center’s Canada Institute virtual discussion on “Matter More: A Canadian Strategy for a Changing United States.”
· USAID meeting. U.S. Agency For International Development (USAID) virtual meeting for remarks by USAID Administrator Samantha Power
· Ukraine economic security. Atlantic Council holds a virtual discussion on “Ukraine’s Security, Europe’s Stability” as part of Central Europe Week.
· US air traffic control. Senate Commerce, Science, and Transportation Aviation Safety, Operations, and Innovation Subcommittee hearing on “U.S. Air Traffic Control Systems, Personnel and Safety.”
· Tax cuts. Cato Institute holds a briefing on “Tax Cuts: How the 119th Congress Can Grow the Economy and Fix the Debt.”
· Renewable energy. American Council on Renewable Energy a virtual discussion on “Midwest Does It Best: Board Considers Historic Transmission Portfolio.”
Friday, Dec. 13
· BEA economic data. Bureau of Economic Analysis virtual meeting of the Federal Economic Statistics Advisory Committee to discuss statistical methodology and other technical matters related to the collection, tabulation, and analysis of federal economic statistics.
· Energy security. Wilson Center’s Canada Institute and Mexico Institute virtual discussion on a new report by the North American Leadership Summit Energy and Innovation Working Group on “Ensuring Energy Security, Maintaining Competitiveness and Expanding Innovation in North America.”
| ECONOMIC REPORTS & EVENTS |
Fed focus returns to inflation ahead of final 2024 FOMC meeting Dec. 17-18. This week, the Federal Reserve shifts its focus back to inflation as it prepares for the year’s final FOMC meeting. The November Consumer Price Index (CPI) report, due Wednesday, is expected to show a 0.3% rise in both headline and core CPI (excluding food and energy). Additionally, Thursday’s Producer Price Index (PPI) is forecast to show a 0.3% increase in the headline figure and a 0.2% rise in the core measure.
Monday, Dec. 9
• Wholesale Trade
Tuesday, Dec. 10
• NFIB Small Business Optimism Index
• Productivity and Costs
Wednesday, Dec. 11
• CPI
• Treasury Budget
Thursday, Dec. 12
• Jobless Claims
• PPI-FD
• Fed Balance Sheet
• Money Supply
Friday, Dec. 13
• Import & Export Prices
| KEY USDA & INTERNATIONAL AG & ENERGY REPORTS & EVENTS |
USDA’s World Agricultural Supply & Demand Estimates (WASDE) are set for release on Tuesday, coinciding with China’s publication of its initial November trade data. Meanwhile, Brussels will host an event focused on the future of European agriculture, exploring market trends, food security, and sustainability.
In the energy sector, three prominent oil forecasters — the IEA, OPEC and the EIA — will publish their monthly market outlooks. China will hold its annual Central Economic Work Conference on Wednesday and Thursday.
Monday, Dec. 9
Ag reports and events:
• Unica cane crush, sugar production (tentative)
• Export Inspections
• US Agricultural Trade Data Update
Energy reports and events:
• World LNG Summit, Berlin; runs through Thursday
Tuesday, Dec. 10
Ag reports and events:
• China’s 1st batch of Nov. trade data, including soybean, edible oil, rubber and meat & offal imports
• China’s agriculture ministry (CASDE) releases monthly report on supply and demand for corn and soybeans
• EU Agri outlook conference, Brussels, day 1
• Malaysian Palm Oil Board data release on November palm oil stockpiles, output, and exports
• Malaysia’s Dec. 1-10 palm oil exports
• EU weekly grain, oilseed import and export data
• Crop Production
• Cotton Ginnings
• America’s Farms and Ranches at a Glance: 2024 Edition
• WASDE
• Cotton: World Markets and Trade
• Grains: World Markets and Trade
• Oilseeds: World Markets and Trade
• World Agricultural Production
Energy reports and events:
• API weekly U.S. oil inventory report
• EIA Short-Term Energy Outlook
• UFE annual electricity conference, Paris
• China to publish its first batch of November trade data, including oil, gas and coal imports; oil products imports and exports
• World LNG Summit, Berlin (through Dec. 12)
• Holiday: Iraq, Thailand
Wednesday, Dec. 11
Ag reports and events:
• EU Agri outlook conference, Brussels day 2
• Meat Price Spreads
• Dairy Monthly Tables
• Season-Average Price Forecasts
• Feed Grains Database
• Wheat Data
• Broiler Hatchery
• Dairy Products
Energy reports and events:
• EIA Petroleum Status Report
• Weekly Ethanol Production
• Genscape weekly crude inventory report
• OPEC Monthly Oil Market Report
• China holds Central Economic Work Conference, Beijing (through Dec. 12)
• World LNG Summit, Berlin (through Dec. 12)
• Exxon Mobil to issue corporate plan update/upstream spotlight
Thursday, Dec. 12
Ag reports and events:
• Port of Rouen data on French grain exports
• Brazil’s Conab issues production, area and yield data for corn and soybeans
• EU Agri outlook conference, Brussels day 3
• Export Sales
• Fresh Apples, Grapes, and Pears: World Markets and Trade
• Cotton and Wool Outlook Tables
• Oil Crops Outlook
• Feed Outlook
• Vegetable and Pulses Outlook
• Wheat Outlook
• Rice Outlook
Energy reports and events:
• EIA Natural Gas Report
• Singapore onshore oil product stockpile weekly data
• IEA Monthly Oil Market Report
• Guyana loading programs (February)
• ICE Gasoil futures for December expire
• China holds Central Economic Work Conference, Beijing (last day)
• World LNG Summit, Berlin (last day)
• Imperial Oil issues 2025 guidance
• Holiday: Mexico
Friday, Dec. 13
Ag reports and events:
• CFTC Commitments of Traders report
• Grains Industry of Western Australia monthly crop report
• FranceAgriMer’s weekly crop condition report
• Feed Grains: Yearbook Tables
• Cost of Pollination
• Turkey Hatchery
• Peanut Prices
Energy reports and events:
• ICE weekly Commitments of Traders report for Brent, gasoil
• Baker-Hughes Rig Count.
| KEY LINKS |
WASDE | Crop Production | USDA weekly reports | Crop Progress | Food prices | Farm income | Export Sales weekly | ERP dashboard | California phase-out of gas-powered vehicles | RFS | IRA: Biofuels | IRA: Ag | | Russia/Ukraine war, lessons learned | | SCOTUS on WOTUS | SCOTUS on Prop 12 pork | New farm bill primer | | Gov’t payments to farmers by program | Farmer working capital | USDA Ag Outlook Forum |