SGD higher after MAS tightens policy slightly, raises inflation forecast

Investor views on a potential Warsh-led Fed remain mixed, with rate futures still pricing two cuts this year. While some see scope for a dovish productivity-led narrative, others remain cautious, leaving pricing steady but conviction limited.

Cotton futures dip 36 pts as ICE stocks rise. Coffee prices tumble on Brazil rains, while oil jumps $1.76 on geopolitical tensions.

Live cattle futures jump $2.10-$2.40 on strong cash trade; feeder cattle up $1.57-$2.05. Boxed beef mixed.

Lean hog futures rally $1.55 on strong USDA hog price; pork cutout up $1.67. Watch slaughter numbers!

Corn futures climb 2-3 cents on record ethanol use & South Korean import. Traders eye EIA data for output shifts.

Wheat futures mixed; SRW steady, HRW fractionally mixed, spring wheat down. Coffee rebounds on short covering.

China’s services PMI rose to 52.3 in January, the strongest in three months, as new orders and export demand improved. Employment grew for the first time in six months, while cost pressures eased and selling prices stabilised.