05/04/2025 Sunday Market Preview

Grains stand to follow through on a mostly stronger close from Friday. The old-crop corn contracts were down against the later months as spreading remained an active part of trading. In the Headlines The next Federal Open Market Committee meeting takes place this week under expectations that the central bank will not reduce its lending rate. Policy updates will come from the meeting’s finish on Wednesday at 1 pm central, with Fed Chair Jerome Powell’s press conference half hour later. Market implied odds were 97 percent for no rate change this month. Odds also shifted dramatically last week for what to expect in June, with views flipping toward thinking the Fed funds rate will hold steady again next month. A weak GDP reading initially supported rate cut ideas last week before a stronger jobs report went the other way. An NBC Meet the Press interview with President Trump aired on Sunday morning to provide fresh comments on market sensitive items such as energy policy, government budget plans, and tariffs. Combined with President Trump’s recorded cabinet meeting late last week, the interview kept the tone aggressive on maintaining tariffs and digging in for the trade war with China. Trump has been…