Grain and soy markets traded in better volume overnight with mixed results. Soybeans were firmer, but the grains held unchanged to slightly lower. Soon after the day session opened, however, soybeans continued to gain, and this pulled the rest of the market along as well. General Comments As was universally expected, the U.S. Federal Reserve Bank left its interest rate unchanged at the conclusion of its July meeting this afternoon. However, Fed watchers poured over the usual post-meeting statement hoping for clues as to when it might decide a future rate increase was appropriate. In the context of this search, the most important sentence in the entire statement may be this: “Near-term risks to the economic outlook have diminished.” This s...