The U.S. wheat futures market was reacting to a 4.50 euro decline in the spot Paris wheat futures contract after several days of price appreciation. The soybean futures price rally was sparked by forecasts of a return of temperatures reaching well above normal next week in the central U.S. General Comments The U.S. Federal Reserve Bank’s July meeting began today and will conclude Wednesday afternoon. There is no expectation of an interest rate hike, but Fed watchers expect the closing statement to contain a more upbeat view of the U.S. economy based on improvement for a number of economic markets, including housing, jobs and inflation. The Fed is likely to re-emphasize its expectation that rates will be raised sometime this year. The next...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, North America