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Grains rallied on pre-holiday fund buying, drought concerns & the BO rally. Corn and beans closed above key chart areas. Live cattle rebounded despite weaker cash, hogs mostly higher. Garrett Toay of AgTraderTalk.

Drought continues to deepen its grip across the Corn Belt, with Iowa and Illinois seeing large jumps in the moderate and severe drought categories. Now, more of the U.S. corn and soybean crop is covered in drought.

Grains strong with fund buying on dry weather, Drought Monitor. How high could prices go? Cattle correcting but will we continue to hold chart support? Chip Nellinger, Blue-Reef Agri-Marketing has the answers.

Cattle still correcting, with an eye on cash. Hogs see more short covering with higher cash & cutouts. Grains up w/fund buying, dry wx, Drought Monitor expanding drought areas. Scott Varilek, Kooima Kooima Varilek.

Wednesday’s interest rate decision broke a streak of 10 straight meetings where the Fed announced higher rates. Officials say another half-a-percentage-point hike is likely yet this year.

“We are working to democratize geospatial insights for farming everywhere,” says CEO Pieter Fossel.

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AgDay TV Markets Now: Chuck Shelby with Risk Management Commodities discusses if corn and beans have enough weather premium and what it will take to retest Tuesday’s highs. Plus, reaction to the Fed move.

Pay particular attention to hydraulic hoses, down-pressure components and anywhere birds and varmints can have a heyday. Your future self will thank you.

It’s not as simple as you might think. House Ag Chair G.T. Thompson shares a rundown of the funding and extension processes. He says the ag committees need to find new dollars to expand the farm bill budget.