Last Wednesday, CME’s FedWatch tool showed a 60% chance of a quarter-point rate hike by the Fed this week. Since then, an almost uninterrupted rise in energy prices and lower trends on Wall Street has that percentage now at 88% chance of a quarter-point hike today, an analyst suggesting another quarter-point hike by December. In the grain trade, rain chances in the Horn Belt continuing right through the weekend.
Some local flooding was reported. All this is too late for maturing crops and further delays harvests across a wide area. This is the Bottom-Line report.
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Audio Reporting by Mark Oppold for Southeast AgNet.