Financials got a pop Tuesday and someone is playing way out in the bond options looking for a decent sized rate drop in 2024. Dow up 391 with really lack of selling, 34,126, and bonds up a point and 5 tics, 126.20. Didn't really follow into the grain room with wheat continuing a slow leak lower, 791 1/2, off 7 3/4. Corn down 2 3/4 to 656 3/4. Cash around the country firm enough to make it hard to push down from here, but fund liquidation continues. Beans give back 7 of Mondays bounce, 1429 3/4. Rice fund buyer still in play 1794 1/2, up 13 1/2. Back up to where we get farmer selling.
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