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The Federal Reserve left rates unchanged at its October meeting, while third-quarter GDP grew at a 3.4% annualized pace and the PCE inflation index measured 3.6%. Commentary links the stronger-than-expected growth and persistent inflation to concern that tighter monetary policy will weigh on commodity markets as grain futures shift from harvest pressure toward demand.
Expectations of further rate hikes and a firmer dollar tend to reduce speculative interest in grain and livestock futures, adding downward pressure on prices. Elevated energy costs feeding inflation keep that policy headwind in place for feed markets.
farmweeknow.comJOE CAMPNov 2, 2026After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.
After 69 past bearish macro events, Wheat (SRW) moved a median -0.5% over 5 sessions (35% higher; middle half -2.6% to +0.8%), and -0.7% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
