Federal Reserve officials are determined to hold interest rates steady a little while longer, though an increasingly contentious debate at this week’s policy meeting may bolster expectations for rate cuts in the fall.

When the Fed cut short rates in the fall, long-bond yields spiked.

Airline sector shows resilience with strong demand and positive earnings, indicating robust consumer and corporate spending despite earlier geopolitical concerns. Netflix reporting after close, remains a streaming leader, but valuation concerns persist; overall, stocks continue mild melt-up with benign retail and jobless data supporting stability.

For decades in the grain industry, we have heard this point repeatedly emphasized: the U.S. dollar is a major factor for importers buying U.S. grains. The U.S. dollar has been in a major downtrend for months, down 11% year-to-date. It was recently announced that the U.S. dollar had its worst 6-month price action since 1973.