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May 3, 2023
 
 
 
 
 
 
 
Grains Reverse on Russia War News, But Is It the Bottom?
 
A key reversal in wheat after a drone strike at the Kremlin pulls corn and soybeans higher as well. AgDay's Michelle Rook chats with Ted Seifried about the headlines and the market response.
 
 
 

USDA Meteorologist Brad Rippey says the chances of an El Niño this summer are growing, but that’s not what brought the recent rains. If anything, this appears to be a storm that got a bit off track when going through Kansas, Oklahoma and Texas and brought up to 3 inches in some areas, he says.

Is El Niño to Thank for the Recent Rains in the Drought-Stricken Plains?
 
 
 

The Federal Reserve raised interest rates by a quarter of a percentage point and signaled it might pause further increases, giving officials time to assess the fallout from bank failures, wait on the resolution of a political standoff over the U.S. debt ceiling and monitor the course of inflation.

Fed Delivers Rate Hike, Signals Possible Pause in Further Increases
 
 
 

Options to provide more funding for the farm bill include clawing back some of the unspent COVID-19 relief funding and restrictions on use of Commodity Credit Corporation Charter Act funding.

$709 Billion Farm Bill Will See a Budget Increase, According to G.T. Thompson
 
 
 

Three McDonald's franchises are fined for violating child labor laws. What an investigation reportedly found, in today's AgDay Minute.

Labor Department: 305 Children Employed Illegally at 3 McDonald's Franchisees
 
 
 
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