Bloomberg Grains Subindex Edges Up 0.07% After Fed Rate Hike

The grains complex barely moved on the Fed decision, and the split is telling: wheat, soybeans and meal firmed while corn and soybean oil slipped, leaving the headline subindex essentially flat. That divergence suggests the rate move was not the driver so much as a backdrop, with rotation inside the complex doing the work. Whether that dispersion persists, or the subindex's marginal gain gives way, is the open question worth tracking.