
Grains are expected to start steady to slightly firmer in follow up of a mild rebound on Friday. Trading volumes remain extremely light as farmers are busy with the start of harvest and while market participants wait on yield results from the field. In the Headlines The S&P 500 stock index lost about 3 percent in in just 3 days following last week’s Federal Reserve meeting. The central bank chose not to raise interest rates, as expected, but comments from Fed Chair Jerome Powell were more hawkish than anticipated as he indicated that rates would stay elevated for a while. Forecasts for interest rates next year included only two rate reductions. Tight monetary policy remains necessary while inflation still runs hot, but now there is also growing concern over the health of the economy in general. A government shutdown is still a growing risk after the House of Representatives failed to pass a continuing resolution last week. The House and Senate will reconvene on Tuesday this week to make more attempts at passing funding bills before various public services would be suspended on October 1st. Ships left the Black Sea with grain from Ukraine last week, despite the export deal…