Tidbits, Pro Farmer Crop Tour, Wheat, Cattle on Feed 8/23/25
- Wright team
- Aug 23, 2025
- 4 min read
Tidbits
Pro Farmer published Crop Tour results. We will analyze the tour results tomorrow.
Economy: On Thursday, S&P Global reported the U.S. August S&P manufacturing Purchasing Managers Index (PMI) unexpectedly rose 4.5 points to a three-year high of 53.3, better than expectations of a decline to 49.7. Also, the Eurozone August S&P manufacturing PMI unexpectedly rose 0.7 to a 3-year high of 50.5, stronger than expectations of a decline to 49.5.
Federal Reserve Chairman Jerome Powell hinted interest rate cuts may be coming as the central bank’s dual mandate, maximum employment and 2% inflation, are nearly balanced. In his final keynote address at the Jackson Hole Economic Symposium yesterday, Powell indicated that current economic conditions may warrant a reduction to the benchmark federal funds rate. On that timid statement, the Dow was up over 800 points and the dollar index was down about 1%.
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