Agriculture News
Traders slashed bets the Fed cut interest rates by 75 basis points again in September following the bigger-than-expected slowdown in consumer inflation.
Corn, soybean and wheat futures were boosted by followthrough buying during overnight trade.
USDA’s cuts to crop condition ratings Monday afternoon fueled buying in grain and soy markets overnight.
The spring wheat CCI rating also declined from the previous week.
USDA’s annual survey finds strong gains in cropland, pasture and farm real estate values.
Corn export inspections fall well short of expectations.
Wheat futures led losses in the grain markets overnight, while corn and soybeans posted lesser declines.
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Grain and soybean futures are expected to open lower amid a favorable near-term weather forecast and outside market factors.