LIVE from Nashville! Silver Drops 31%, Grain Setback, More Farm Aid
LIVE from Nashville! Silver Drops 31%, Grain Setback, More Farm Aid  
Podcast: Grain Markets and Other Stuff
Published On: Mon Feb 02 2026
Description: Joe's Premium Subscription: https://standardgrain.com/Apple Podcasts https://podcasts.apple.com/us/podcast/grain-markets-and-other-stuff/id1494161095Spotify https://open.spotify.com/show/4NJ9AZcSQBrLXFLCcPrGGG🌽🌱 Grain Futures RecapGrain futures finished lower on Friday, pressured by profit-taking and a rebound in the US dollar.March corn slipped by nearly 3 cents to $4.28March soybeans dropped 8 cents to $10.64Wheat futures also declined, with Chicago March wheat down about 4 cents to $5.38Markets also continue to price in strong Brazilian crop expectations, while traders assessed the impact of severe cold across the US Plains earlier this week and frigid temperatures in Ukraine.👉 See grain charts below🥇🥈 Gold & Silver: Historic VolatilityPrecious metals suffered historic one-day losses on Friday.Gold futures fell sharplySilver posted its worst daily decline since 1980The selloff followed President Trump’s nomination of Kevin Warsh as the next Fed Chair, which eased concerns about central bank independence and sent the US dollar sharply higher.Longer term, metals may still find support from geopolitical risks and trade uncertainty, but Friday was a major reset.👉 See gold, silver, and Dollar Index charts below🏛️ Federal Reserve UpdatePresident Trump officially selected Kevin Warsh to succeed Jerome Powell as Federal Reserve Chair when Powell’s term ends in May.Warsh has historically been a policy hawkRecently shifted toward supporting lower ratesViewed by markets as more inflation-focused than other rumored picksOne analyst summed it up:“Because Warsh has been a policy hawk his entire life, his newfound dovishness looks very suspect.”👉 See Dollar Index and Bloomberg Commodity Index charts below📊 CFTC Commitment of TradersThe Commodity Futures Trading Commission released its weekly COT report.For the week ending January 27, funds were net buyers across major ag markets:CornSoybeansSRW wheat👉 See Fund Tracker charts below🚜 Farmer Assistance UpdateAdditional farmer aid remains under discussion in Washington.According to John Boozman, the proposed $15B package was excluded from the current spending billAid could still move forward as a standalone bill or disaster relief add-onThe $11B Farmer Bridge Assistance program is still scheduled to be distributed by February 28🐄 Cattle Inventory: Historically TightThe USDA cattle inventory report confirmed the smallest US herd since 1951.Total herd: 86.2 million headBeef cow numbers declined againSlight uptick in replacement heifers, but not enough to signal real expansionBottom line: structurally bullish for the cattle market with no clear signs of herd rebuilding.