House to Debate ACA/ObamaCare This Week
Senate to vote on Julie Callahan as chief ag negotiator at USTR
Link: Weekend Updates, Dec. 12: U.S. Lifts Belarus Potash Sanctions, Adding
New Uncertainty for Fertilizer Markets
Link: USTR Greer Lays Out Trump Trade Doctrine at Atlantic Council
Link: Video: Wiesemeyer’s Perspectives, Dec. 13
Link: Audio: Wiesemeyer’s Perspectives, Dec. 13
The Week Ahead: Dec. 14, 2025
UP FRONT— Hassett signals deference to Fed independence while welcoming Trump’s views Kevin Hassett says President Trump can express rate opinions, but any Fed chair — including himself — would preserve central bank independence and base decisions strictly on data.— What economists got wrong in 2025 The Financial Times argues economists overplayed Trump-era political risks and underestimated global adaptability, AI investment, and sectoral resilience that kept growth firmer than expected.— EU/India trade talks slip into 2026 as auto and steel disputes persist Stalled negotiations highlight how politically sensitive sectors are slowing major trade deals and suggest any comprehensive U.S.–India agreement is likely to move incrementally and slowly.— Ukraine claims overnight strike on major Russian oil refinery Ukraine says drone strikes hit the Afipsky refinery and a Volgograd oil depot as part of a broader campaign to squeeze Russia’s war-financing energy revenues.— House GOP clears path for floor vote on temporary ACA subsidy extension GOP leaders agreed to an amendment vote on extending enhanced ACA subsidies, giving moderates leverage amid fears of premium spikes ahead of elections.— House set to vote this week on Whole Milk for Healthy Kids Act The House will vote on restoring whole and 2% milk in school meals, with MAHA backing the bill as a shift toward nutrient density and likely implementation next school year.— Trump’s pick for top agricultural trade post heads to Senate floor Julie Callahan is poised for confirmation as chief agricultural negotiator, formalizing leadership on farm trade, market access, and enforcement amid heightened tariff tensions.— Supreme Court poised to rule on Trump tariffs The Court is weighing whether Trump’s IEEPA tariffs exceeded presidential authority, a decision that could trigger refunds, reshape trade powers, and alter tariff policy.— Barron’s: Supreme Court weighs Trump Tariffs as markets brace for a ruling Barron’s outlines scenarios ranging from partial rollback to full validation of IEEPA tariffs, with implications for refunds, growth, and executive trade authority.— Economic reports and Fed speakers take center stageMarkets are focused on the Nov. jobs report, CPI, retail sales, and PMI data, alongside multiple Fed speeches, as policymakers assess inflation trends after shutdown-related data distortions. — Key USDA and global ag reports dueAttention is on U.S. export sales, soybean crush, livestock reports, China’s November ag trade data, and FranceAgriMer crop updates for signals on demand, supply, and pricing. — Energy markets watch China data and inventory reportsChina’s output and trade figures, U.S. oil and gas inventories, ethanol production, and EU energy minister meetings will shape expectations for fuel demand and energy security.TOP STORIES— Hassett signals deference to Fed independence while welcoming Trump’s views Top White House economic adviser says president’s rate opinions could be heard — but not weighed — if he leads the central bankKevin Hassett, head of the National Economic Council and a leading contender to succeed Federal Reserve Chair Jay Powell, said President Donald Trump would be free to offer views on interest-rate policy but would have no formal influence over Fed decisions. Speaking Sunday on CBS’ Face the Nation, Hassett said Trump holds “strong and well-founded” opinions on monetary policy, yet emphasized that rate setting must remain the independent responsibility of the Federal Open Market Committee and the Board of Governors. While Trump and senior advisers have pressed Powell for months to cut rates and the president has said he should be able to make recommendations, Hassett stressed that any presidential input would be advisory only. Even as Fed chair, he said, policymakers would be free to reject such views and vote differently, underscoring that Trump’s opinion would carry weight only if it were data driven.— What economists got wrong in 2025 Forecasts dwelled too much on Donald Trump’s threats and not enough on offsetting factors, underestimating resilience in markets, trade and technologyAn analysis in the Financial Times argues that many mainstream economic forecasts in 2025 overstated the negative economic impact of political risks — especially President Donald Trump’s tariff threats — while under-weighting countervailing forces that helped keep the global economy more robust than expected. Key areas where economists misjudged the trajectory of the year include:1. Overemphasis on political risks: Many forecasts centered on the disruptive potential of Trump’s aggressive trade policy, pricing in sharply lower growth and heightened recession risks. But the actual implementation and eventual softening of some tariff measures blunted their economic bite more than anticipated. 2. Underestimating global adaptability: Analysts underestimated how quickly global supply chains and major economies — particularly China, Vietnam, India and Germany — would adjust to trade tensions and other geopolitical shocks. This adaptability supported stronger-than-expected growth and mitigated downside risks. 3. Technological and sectoral buffers: Sectors like healthcare and especially artificial intelligence investment proved more resilient and growth-supportive than many models assumed, boosting productivity and corporate valuations. Additionally, a softer U.S. dollar aided emerging market performance. Overall, the FT reflects that while political uncertainties — especially around U.S. policy — drove headlines and risk premiums, broader economic fundamentals and structural buffers helped deliver a year that was economically better than many consensus forecasts predicted.— EU/India trade talks slip into 2026 as auto and steel disputes persist Delay underscores how politically sensitive sectors are slowing major trade deals — and hints that a comprehensive U.S./India accord could also face a longer runwayTrade negotiators from the European Union and India are no longer confident they can finalize a long-awaited free trade agreement (FTA) by the end of 2025, with talks bogged down over sensitive issues including automobiles, steel, and carbon-related rules. Instead, negotiations are now expected to extend into January, with hopes that at least a limited agreement could be announced during a planned visit to New Delhi by European Commission President Ursula von der Leyen.The delay comes despite a February political commitment by Prime Minister Narendra Modi and von der Leyen to conclude the deal this year. Officials familiar with the talks say that while momentum improved after the summer, unresolved technical and political disagreements remain. As a result, any near-term outcome is likely to be narrower in scope than recent EU trade agreements.Key sticking points include the EU’s push for India to expand the quota — currently about 80,000 vehicles — that European automakers can export to India at reduced tariffs, and India’s demand for lower EU duties on certain steel products. New Delhi is also seeking flexibility around the EU’s carbon border adjustment mechanism, which it views as a potential trade barrier.The talks have taken on added urgency as India seeks to diversify its export markets following President Donald Trump’s return to office and the imposition of steep U.S. tariffs on Indian goods. India has accelerated trade negotiations elsewhere, finalizing an FTA with the UK this year and advancing talks with partners such as New Zealand, Chile, Peru, and Oman.Implications for a U.S./India trade deal. The EU/India delay is a signal that any comprehensive U.S./India trade agreement is also likely to face a protracted timeline. The same politically sensitive sectors — autos, steel, climate-related trade rules, and market access protections — would almost certainly feature in U.S. talks as well. If even the EU, India’s largest trading partner bloc and a long-standing negotiator, struggles to close gaps after years of engagement, it suggests Washington and New Delhi may gravitate toward narrower, sector-specific arrangements rather than a sweeping FTA in the near term.Upshot: The EU/India experience reinforces expectations that a U.S./India accord, if it advances, is more likely to unfold incrementally and over a longer horizon rather than through a rapid, comprehensive deal.— Ukraine claims overnight strike on major Russian oil refinery Kyiv says attacks on Afipsky refinery and Volgograd oil depot are part of a broader campaign to squeeze Moscow’s war financingUkraine said its forces struck a major Russian oil refinery and an oil storage facility overnight, intensifying a campaign against Moscow’s energy infrastructure as the U.S. pushes fresh diplomatic efforts to end the war. According to Ukraine’s General Staff, drones hit the Afipsky oil refinery in Russia’s Krasnodar region and an oil depot in the Volgograd region, triggering fires at both sites. Russia has not confirmed damage to the refinery, though local officials acknowledged drone-related fires in nearby residential areas. The Afipsky facility can process up to 9.1 million tons of crude a year, or roughly 180,000 barrels per day. The strike follows a recent uptick in Ukrainian attacks on Russian energy assets — including offshore platforms in the Caspian Sea — aimed at curbing revenues that fund the invasion, even as Russia continues missile and drone assaults on Ukraine’s own energy infrastructure, leaving large numbers of civilians without power, President Volodymyr Zelenskyy said. |
| WASHINGTON FOCUS |
— This week is the last in session for lawmakers before they recess for the holidays.
In the House, Republicans have cleared the way for a busy week on Capitol Hill, with GOP leaders agreeing to allow a floor vote on a temporary extension of the Affordable Care Act’s enhanced premium subsidies as an amendment to a broader healthcare package, giving moderates leverage amid concerns about premium spikes for self-employed, rural, and swing-district constituents. The House is also set to vote under suspension of the rules on the Whole Milk for Healthy Kids Act, a bipartisan bill backed by the MAHA initiative that would restore whole and 2% milk options in school meals and likely take effect next school year if enacted.
In the Senate, Julie Callahan is headed for a confirmation vote to become chief agricultural negotiator at USTR, formalizing leadership on farm trade talks. The Senate is also preparing to take up the sweeping National Defense Authorization Act this week, the must-pass, multibillion-dollar defense policy bill approved by the House last week. While final passage is still expected, the legislation is encountering late-stage resistance over a controversial aviation safety provision. A procedural vote is scheduled for tomorrow evening, setting the stage for a final vote later in the week.
Meanwhile, lawmakers await a Supreme Court ruling that could determine the fate of President Trump’s tariffs and significantly reshape U.S. trade authority.
— House GOP clears path for floor vote on temporary ACA (ObamaCare) subsidy extension
Moderates gain leverage as leadership agrees to amendment vote amid tight margins and healthcare negotiations
House Republican leaders have agreed to allow a floor vote this week on extending the Affordable Care Act’s enhanced premium subsidies, giving moderates a key opening after weeks of internal pressure. The vote is expected to come as an amendment to a broader Republican healthcare package unveiled — a proposal Speaker Mike Johnson (R-La.) assembled through a last-minute effort to determine which provisions could command enough support to pass the narrowly divided House.
The decision marks a notable concession by GOP leadership, which has long been divided over the future of the ACA subsidies. The enhanced subsidies, first expanded under Democrats and set to expire at the end of the year, have helped lower premiums for millions of Americans purchasing coverage on the individual marketplace. Allowing a vote, even on a temporary extension, reflects growing concern among swing-district Republicans about the political and economic fallout of letting the subsidies lapse.
Moderate Republicans have increasingly argued that an abrupt expiration would lead to sharp premium increases for constituents — including self-employed workers, early retirees, and many rural Americans — just months ahead of the next election cycle. Their push has intensified as insurers warn that uncertainty over subsidies could destabilize marketplace pricing for 2026 plans.
Johnson’s strategy appears aimed less at settling the ACA debate outright than at testing where consensus exists within the conference. By structuring the extension as an amendment, leadership can gauge support without fully embracing a policy that remains controversial with conservatives, many of whom view the subsidies as an entrenched expansion of Obamacare.
Still, the move underscores the limits of GOP unity on healthcare. While conservatives continue to press for structural changes to the ACA and greater reliance on health savings accounts and short-term plans, moderates see a temporary subsidy extension as a necessary bridge — both to avoid market disruption and to blunt Democratic attacks on healthcare affordability.
Whether the amendment ultimately passes remains uncertain, given Republicans’ slim majority and the likelihood that Democrats will support an extension. But simply granting a vote signals that, on healthcare, the party’s center is gaining leverage — at least for now — as leadership searches for provisions that can survive a knife-edge floor fight.
— House set to vote this week on Whole Milk for Healthy Kids Act
Measure would restore whole and 2% milk in school meals as MAHA backs higher-fat dairy as part of “nutrient-dense” approach
The Whole Milk for Healthy Kids Act is scheduled for a House floor vote. House leaders have placed the measure on the calendar under suspension of the rules, signaling confidence in bipartisan support and limiting debate while requiring a two-thirds majority for passage.
If approved, the bill would move next to the Senate, reopening a long-running debate over federal school nutrition standards and dietary fat.
What the bill would change. The legislation would allow schools participating in the National School Lunch Program and School Breakfast Program to again offer whole (3.25%) and reduced fat (2%) milk, in addition to skim and 1% options currently permitted under USDA rules. Decisions on which milk types to serve would be left to local school districts, rather than mandated at the federal level.
The bill does not alter sugar limits for flavored milk or other nutrition requirements tied to school meals.
MAHA’s position: nutrient density over fat limits. The Make America Healthy Again (MAHA) initiative has endorsed the bill, framing it as consistent with its broader push to prioritize nutrient-dense, minimally processed foods over rigid macronutrient caps.
MAHA supporters argue that:
• Whole milk delivers essential nutrients — including calcium, vitamin D, and protein — in a more bioavailable form
• Higher-fat dairy improves satiety, potentially reducing reliance on ultra-processed snacks
• Long-standing federal limits on saturated fat are increasingly out of step with emerging nutrition research
Within MAHA, the bill is seen as a test case for loosening federal food rules that critics say were shaped more by outdated dietary theory than real-world health outcomes.
Supporters — including dairy producers, school nutrition officials, and farm-state lawmakers — say restoring whole milk would boost student participation in school meal programs and better align menus with what children actually consume.
Opponents, including some public-health advocates, warn the change could undermine dietary guidelines aimed at limiting saturated fat intake, particularly for low-income students who rely heavily on school meals.
What comes next. If the House approves the bill this week, attention will turn to whether the Senate takes it up quickly or defers action to a broader child-nutrition or agriculture package next year. The outcome could signal how much flexibility Congress is willing to give USDA as it revisits nutrition standards under mounting political and scientific pressure.
Even with immediate legal effect, schools would not switch overnight. USDA would need to:
• Issue guidance or interim rules to state agencies and school districts
• Update program handbooks for the National School Lunch Program (NSLP) and School Breakfast Program (SBP)
• Allow states and districts time to adjust procurement contracts
As a result, the change would likely be implemented at the start of the next school year following enactment (typically July 1), which is how USDA handles most school-meal standard changes.
In theory, USDA could allow states to opt in as soon as guidance is issued, but:
• Most districts lock in milk contracts months in advance
• Mid-year changes are operationally difficult
So even supporters expect the real-world impact to begin with the next school meal cycle, not mid-semester.
— Trump’s pick for top agricultural trade post heads to Senate floor
Julie Callahan poised for confirmation vote as administration sharpens focus on farm trade talks and market access
President Donald Trump’s nominee to serve as the United States’ chief agricultural negotiator is set for a Senate confirmation vote this week, positioning the administration to solidify leadership over high-stakes farm and food trade negotiations.
Julie Callahan, currently the assistant U.S. trade representative for agricultural affairs and commodity policy, advanced out of the Senate Finance Committee in mid-November and is widely expected to be confirmed by the full Senate. If approved, she would assume the role of chief agricultural negotiator at the Office of the U.S. Trade Representative (USTR), a post central to shaping U.S. positions on market access, sanitary and phytosanitary rules, and agricultural provisions in trade agreements.
Callahan has served as the administration’s top day-to-day agriculture trade official, leading negotiations and enforcement efforts involving major trading partners. Her portfolio has included disputes over biotechnology approvals, meat and dairy access, and the treatment of U.S. crops and livestock under foreign regulatory regimes. Elevating her to chief negotiator would formalize her authority as the administration presses ahead with a more confrontational and enforcement-driven trade strategy.
The timing is notable as the White House ramps up trade activity affecting agriculture, including implementation of new tariff policies, ongoing disputes with key partners, and preparation for upcoming reviews of major trade frameworks. Farm groups have been closely watching the nomination, viewing the chief agricultural negotiator role as critical to protecting export markets at a time of weak commodity prices, high input costs, and intensifying global competition.
If confirmed as expected, Callahan would replace the acting leadership structure at USTR and become the administration’s principal advocate for U.S. farmers, ranchers, and agribusiness exporters in bilateral and multilateral negotiations.
— Supreme Court poised to rule on Trump tariffs
High-stakes decision will test presidential emergency powers and could reshape U.S. trade policy, with major implications for importers, farmers, and federal authority over tariffs
The U.S. Supreme Court is poised to issue a decision in a high-stakes legal challenge over whether President Donald Trump lawfully used the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on imports from countries around the world. The Court consolidated two key cases (including V.O.S. Selections, Inc. v. Trump and Learning Resources v. Trump), after lower courts ruled that the tariff regime exceeded presidential authority under statute and the Constitution.
At the core is whether IEEPA — a Cold War-era emergency powers law — authorizes a president to impose broad tariffs, which traditionally fall under Congress’s taxing and trade authority. Many justices expressed skepticism at oral argument, questioning both the statutory text and the practical consequences of sustaining or invalidating the tariffs.
A decision could come potentially by late winter or spring 2026. It will have major legal and economic impact:
• If the Court strikes down the tariffs, the government may face refund liabilities in the tens of billions to importers and upend ongoing trade negotiations.
• If the Court upholds the tariffs, it would cement broad executive power over trade policy and maintain tariff-induced costs for U.S. companies and consumers.
Politico reports that Customs and Border Protection is rushing to move tariff revenue into Treasury’s coffers quickly. That could hamper U.S. companies’ ability to get refunds on the tariffs they’ve paid if the justices strike down Trump’s protectionism, presaging more complicated legal fights to recoup the money.
| — Barron’s: Supreme Court Weighs Trump Tariffs as Markets Brace for a RulingHigh court decision on IEEPA authority could reshape refund claims, fiscal outlook, and the future scope of presidential trade powers The Supreme Court is poised to rule on the legality of President Donald Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA) — a decision with major implications for executive power, trade policy, and potential refunds to U.S. importers, Barron’s reports. The case centers on “reciprocal” tariffs ranging from 10% to 40% that Trump imposed this year after declaring the U.S. trade deficit a national security emergency. Two lower courts ruled the IEEPA tariffs illegal, prompting the administration’s appeal. While a ruling could come soon, most legal observers expect a decision in early 2026, according to Barron’s. Barron’s outlines three main scenarios under consideration by analysts and trade lawyers: 1) A hybrid ruling.The Court could strike down country-based reciprocal tariffs while preserving narrower measures tied to national security concerns, such as fentanyl-related tariffs on China and Canada. Legal experts told Barron’s the justices may opt for a narrow ruling that reins in broad economic use of emergency powers without tackling deeper constitutional questions. A key issue would be whether importers are entitled to refunds — potentially increasing fiscal pressure, since IEEPA tariffs account for roughly half of tariff revenue collected so far this year. 2) IEEPA tariffs ruled illegal.If the Court invalidates all or part of the IEEPA tariffs, attention would shift quickly to refunds and how they would be administered. Some analysts expect the Supreme Court to send that question back to the Court of International Trade, Barron’s notes. Economically, the impact could be modest: Oxford Economics estimates that fully removing the tariffs would lower the effective U.S. tariff rate by nearly five percentage points and boost global growth by about 0.2 percentage point. The White House, however, could pursue alternative tariff authorities to rebuild lost revenue. 3) Tariffs upheld.The Court could side with the administration and reverse the lower-court rulings, preserving the status quo for markets but significantly expanding presidential latitude over trade policy. As one former Trump administration official told Barron’s, such a decision would mark a major shift of power from Congress to the executive, making tariffs a far more flexible — and volatile — policy tool for future presidents. Regardless of the outcome, Barron’s reports that trade volatility is likely to persist. Even if the IEEPA tariffs fall, the administration has other options, including Section 301 and sectoral investigations, to maintain leverage and uphold preliminary trade deals (see below for more on this). Analysts caution that litigation and new tariff authorities could follow, meaning the Court’s decision may clarify the law — but not end uncertainty over U.S. trade policy. |
The ruling will shape not just U.S. trade policy but the balance of power between Congress and the presidency on major economic decisions — a precedent likely to influence future administrations.
Source: Business Insider
| — AG EVENTS |
Mon., Dec. 15
• Antitrust outlook. American Bar Association virtual discussion on “Trump v. Slaughter: Implications for the Future of Antitrust Enforcement.”
Tue., Dec. 16
• Phase One agreement commitments. Office of the U.S. Trade Representative hearing on Section 301 Investigation: China’s Implementation of Commitments Under the Phase One Agreement.
• WTO. Washington International Trade Association discussion on “WTO Matters: The WTO in Today’s Global Economy and a Path Forward.”
• Future banking regs. The Hill holds an event on “Modern Money: The Next Chapter in Banking, Regulation and Financial Trust.”
• U.S. energy future. Securing America’s Energy Future Center for Grid Security holds a virtual discussion on “Powering Prosperity: Transmission & America’s Industrial Golden Age.” holds an event on “Modern Money: The Next Chapter in Banking, Regulation and Financial Trust.”
Wed., Dec. 17
• Meat Import Council of America members-only webinar on cargo theft trends.
• WRDA 2026. House Transportation and Infrastructure Water Resources and Environment Subcommittee hearing on “Water Resources Development Act of 2026: Stakeholder Priorities.”
• Relations with Mexico. House Foreign Affairs Western Hemisphere Subcommittee hearing on “Mexico’s Relationships with the Region.”
Fri., Dec. 19
• Meat Import Council of America members-only webinar on tariffs.
| — ECONOMIC REPORTS & FED SPEAKERS |
— The next U.S. jobs report — officially called the Bureau of Labor Statistics (BLS) Employment Situation — will be released on Tuesday, Dec. 16, at 8:30 am CT. It covers November 2025 labor market data, including nonfarm payrolls and the unemployment rate. The October 2025 jobs report was canceled due to delayed data collection during the federal government shutdown, and its establishment survey data will be incorporated into the November report. Because of these adjustments, the Dec. 16 release will be the next comprehensive employment data point for markets and policymakers.
— Key U.S. economic reports (Dec. 15-19)
Note: Some government data releases remain uncertain or delayed due to the previous U.S. gov’t shutdown.
Mon., Dec. 15
• Empire State Manufacturing
• Housing Market Index
• Federal Reserve. Fed Governor Stephen Miran speaks on The Inflation Outlook at Columbia University’s School of International and Public Affairs in New York. New York Fed President John Williams is scheduled to speak.
Tue. Dec. 16
• Employment
• Housing Starts
• PMI Composite Flash
• Retail Sales
• Business Inventories
Wed., Dec. 17
• MBA Mortgage Applications
• Atlanta Fed Business Inflation Expectations
• Atlanta Fed GDP update
• Federal Reserve. Fed Governor Christopher Waller to speak on the Economic Outlook in New York. New York Fed President John Williams and Atlanta Fed President Raphael Bostic are scheduled to speak.
Thurs. Dec. 18
• Jobless Claims
• CPI
• Philadelphia Fed Manufacturing
Fri., Dec. 19
• Existing Home Sales
• Consumer Sentiment
| — KEY USDA & INTERNATIONAL AG REPORTS & EVENTS |
— Ag focus: China’s second batch of trade data for November, including grains and sugar imports, will be published on Thursday. Focus during the week will also be on the French agriculture ministry’s report on key crops.
NOTE: U.S. releases are listed, though data may be delayed or postponed due to the prior gov’t shutdown.
Mon., Dec. 15
• Malaysia’s Dec. 1-15 palm oil exports
• Malaysia CPO export tax for January
• CFTC data for week ended Nov. 25 delayed by the U.S. gov’t shutdown
• NOPA U.S. soybean crush
• Livestock, Dairy, and Poultry Outlook
• Sugar and Sweeteners Outlook
• Export Sales for the week ended Nov. 20
• Agricultural Prices
• Dairy Products
• Turkey Hatchery
Tue., Dec. 9
• EU weekly grain, oilseed import and export data
• France agriculture ministry report on key crops
• Dairy products: Per capita consumption
• Cotton and Wool Yearbook
• Vegetables and Pulses Data
• Per capita consumption of selected cheese varieties
• Fruit and Tree Nuts Data
• Supply and allocation of milk fat and skim solids by product
• Sugar: World Markets and Trade
• Holiday: Bangladesh
Wed., Dec. 10
• CFTC data for week ended Dec. 2 delayed by the U.S. gov’t shutdown
• Broiler Hatchery
• Fresh Apples, Grapes, and Pears: World Markets and Trade
• Potato Stocks
Thurs., Dec. 11
• Export Sales for week ended Nov. 27
• China’s 2nd batch of November trade data, including grains, sugar, cotton, palm oil, pork & beef imports
• FranceAgriMer monthly grains balance sheet & meeting
• Coffee: World Markets and Trade
• Vegetable and Pulses Outlook
• Cost-of-Production Forecast
• Slaughter Weekly
Fri., Dec. 12
• FranceAgriMer weekly crop conditions report
• CFTC Commitments of Traders data for week ended Dec. 9
• Food Expenditure Series
• Dairy: World Markets and Trade
• Cotton Ginnings
• Cattle on Feed
• Chickens and Eggs
• National Hop Report
• North American Potatoes
• Peanut Prices
| — KEY ENERGY REPORTS & EVENTS |
Focus: China will publish a range of data on energy output and trading during the week. European Union ministers will discuss a wide range of energy- and environment-related issues at meetings in Brussels.
Mon., Dec. 15
• China industrial production for November including coal, gas and power generation; crude oil and refining
• EU energy ministers meet in Brussels; agenda includes discussion on energy security with NATO Secretary General Mark Rutte
Tue., Dec. 16
• API U.S. inventory report
• TotalEnergies CEO Patrick Pouyanne among speakers at the IEFA Conference of Paris (through Dec. 17)
• EU environment ministers meet in Brussels
• European Commission due to adopt a review of emissions performance standards for cars (see related story) and propose adjustments to its carbon border levy
• WTI January options expire
• Holiday: Kazakhstan, South Africa
Wed. Dec. 17
• EIA Petroleum Status Report
• Weekly Ethanol Production
• China due to publish November output data for base metals, oil products
• Genscape weekly crude inventory report for Europe’s ARA region
• IEFA Conference of Paris (last day)
Thurs., Dec. 18
• China to publish second batch of November trade data, including oil products imports and exports breakdown; LNG and pipeline gas imports
• Singapore onshore oil-product stockpile weekly data
• Insights Global weekly oil-product inventories in northwest Europe’s ARA region
• WTI CSOs for January expire
• Holiday: Qatar
Fri., Dec. 19
• ICE weekly Commitments of Traders report for Brent, gasoil
• European Council meeting, Brussels (last day)
• Baker-Hughes Rig Count
• WTI January futures expire
