09/19/2024 Fed Cut, Exports Out

On the Grains
Well, the Fed did it yesterday, a 50 basis point cut was announced and sent the precious metals on a sharp trajectory lower, although recovering nicely in the overnight. The announcement at 1 pm didn’t allow much reaction time for the livestock or the grains but we did have the overnight session on grains which was wildly uneventful. While this rate cut was to due to inflation cooling off, the numbers many say it’s cooling off, I look at my own budget and struggle to see just what’s cooling off, but the experts tell me it is, so it must be true. The way it looks now interest might be the only line item in my farm projections for next year that is cheaper, possibly fuel but time will tell on that.