Corn, cotton, soybeans, and wheat were up for the week.

On Wednesday the Federal Reserve raised interest rates by 0.25%. The change was the 10th
increase in interest rates in 14 months. The Federal Reserve has been raising interest rates to reduce the annual inflation rate to closer to its target of around 2%. Annualized monthly inflation peaked at 9.06% in June 2022 and has since declined to the most recent estimate of 4.98% on March 31, 2023. The bank prime lending rate is now at 8.25%, up 5% compared to March 15, 2022. The increase in interest rates has numerous implications for agricultural producers – increased interest expense on operating capital, reduced access to credit, and higher capital recovery rates on medium-to-long term capital investments (machinery, livestock, land etc.). Continue reading at Tennessee Market Highlights.