Agriculture
Increased use of wheat for animal feed because of high domestic corn prices and a difficult harvest played a major role in pushing up imports. Hungry cows | Canada is now one of the top buyers of U.S. corn as cattle ranchers scour for grain to feed their animals.
Metals
S&P 500 futures pointed to little change at the open, the 10-year Treasury yield was at 1.792%, oil was close to $84 a barrel and gold was lower.
Oil
Today we look at the economic risks posed by soaring oil prices, why union membership in the U.S. fell again and how omicron may not View in browser Hello. (Peter Yeung) Oil Spills | A Nigerian court will hear Royal Dutch Shell s appeal to overturn an almost $2 billion award against the company for allegedly spilling oil. Angola s economy will go from stagnation in 2021 to almost 3% growth this year, thanks to crude s upswing and relaxed Covid-19 measures, the IMF said Thursday.
But by $100 a barrel, sizeable regions of the world would hit the point at which demand erosion kicks in, according to the Wall Street bank. Goldman Sachs Group Inc. and Morgan Stanley are among the banks now predicting oil will hit $100 a barrel in the third quarter. The latest gains have come even amidst omicron-related lockdowns in China, the world s biggest buyer of crude.
But by $100 a barrel, sizeable regions of the world would hit the point at which demand erosion kicks in, according to the Wall Street bank. Goldman Sachs Group Inc. and Morgan Stanley are among the banks now predicting oil will hit $100 a barrel in the third quarter. The latest gains have come even amidst omicron-related lockdowns in China, the world s biggest buyer of crude.
United States
Bitcoin continues to track moves in tech stocks, with Nasdaq 100 futures also falling. Fed takes key step in deciding on U.S. digital-coin issuance.
Europe
ECB climate test goes easier than expected on banks.
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