Fed Reserve rate cut may spark more commodity support

"The Federal Reserve cut the federal lending rate by 0.5%. Reduction of interest rates signals a looser monetary supply, which could trigger the weakening of the U.S. dollar," Total Farm Marketing said. "This interest rate move could also signal a more inflationary environment, which should help support some commodity markets."

"Weekly ethanol production dropped by 2.9% from last week to 1.049 mln barrels per day," Total Farm Marketing said. "This number was up 7% from last year. Corn used last week for the ethanol grind totaled 105.84 mb."