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Fed Cautious on Additional Rate Cuts

A Wall Street Journal report from Feb. 20, said Fed officials were “broadly comfortable with their decision to hold interest rates steady at their meeting last month and offered nothing to suggest any immediate change to their wait-and-see stance on rate cuts.” 

According to the minutes from the Jan. 28-29 policy meeting, the current high level of uncertainty made it appropriate for the committee to be careful in its approach to additional adjustments, WSJ reported. 

Last month the Fed decided to keep the benchmark federal funds rate at its current level of about 4.3% after 3 consecutive cuts starting in September when rates were around 5.3%. 

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USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension


USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.