Agriculture News
Despite the stronger consumer inflation data, Fed fund futures reflect increased odds the Fed will embark on an extended pause for interest rates.
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Corn, soybean and wheat futures held in tight trading ranges during a quiet overnight session.
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Corn, soybeans and wheat held in tight trading ranges during a quiet, two-sided overnight session.
Corn and soybean basis drops sharply as harvest gets an early start in some areas.
Corn and soybeans were supported by deteriorating crop condition ratings during overnight trade, while wheat also traded higher.
Illinois led the ratings declines, though most of the top production states dropped.
USDA’s Weekly Export Inspections data was within pre-report estimates, though corn and wheat inspections fell notably on the week, while soybean inspections rose slightly.
The Current Conditions Index fell 10.7% in August, while the Future Expectations Index declined 4.0%. The overall ag barometer was 1.7% lower than August 2022.
