Saturday, October 29, 2016

Soybeans Moves the Needle?

GDP growth was announced on Thursday to have increased 2.9 percent for the third quarter of2016(divide that number 4 to get the actual number).  Almost every component of GDP was pitiful.  The sole significant increase was a10 percent jump in exports.  Does anyone believe that?

Looking under the export numbers was a spike in soybean sales.  How the Commerce Department could put this out with a straight face is mind boggling. A soybean spike - really?

2.9 percent is weak at best, since it implies year-to-year growth of 1.5 percent - barely a pulse.

But look for revisions, after Clinton has been safely elected.  The Commerce Department is not a neutral bystander.

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