Fed

Nomura now expects the Fed to hold rates steady in December, citing a still-solid labour market and Powell’s hawkish tone in October — a non-consensus view that could draw renewed criticism from President Trump.

McDonald’s and Tyson Foods say the U.S. government shutdown and suspended SNAP food benefits are hitting low-income consumers hardest. 40 million Americans dependent on SNAP, analysts warn the disruption could squeeze spending.

Fed officials are increasingly split over whether inflation or labour-market weakness poses the greater threat, clouding prospects for another rate cut in December as Powell tries to hold together a divided committee amid missing economic data.

50-yr mortgages: $400k extra cost vs. standard. Some see savings, others balk. Traders eye housing market impact.

Corn futures climb 2-3 cents on yield drop fears; cash corn hits $3.93. Coffee & cocoa also see gains.

Wheat futures mixed: Spring wheat up 5-6 cents, HRW down 3.25 cents. Traders eye WASDE report & 867 mbu US stocks.

Live cattle futures dip $1.35 to $227.20, while feeder cattle gain $2.02. Boxed beef prices climb despite supply.