08/30/2026 Sunday Market Preview

Grains were set up for follow-through on stronger settlements from Friday but buying could eventually give way to a back-and-fill trade that coincides with month-end profit-taking. Top influences include flaring of the conflict between Russia and Ukraine, a Venezuelan oil deal, and traders waiting for the decision on biofuel waivers. In the Headlines Interest rate expectations shifted sharply again on Friday as Federal Reserve Chairman Kevin Warsh spoke at the Jackson Hole conference. Warsh expressed concern about high inflation and referenced interest rates as the main tool for stabilizing prices. The odds of a Fed funds rate hike coming from the September meeting jumped to 57 percent likely, up from 35 percent on Thursday. The market reaction featured higher bond yields and a stronger dollar along with a reversal down for gold and silver. President Trump announced another deal to bring down prices, this one involving the Venezuelan oil and the rights to untapped production fields holding an estimated 65 billion barrels. The U.S. government was granted majority ownership in a company that can buy the oil at cost under an agreement lasting 100 years.  The company would own the rights to about one-third of the country’s oil output capacity,…