Tuesday trade more powerful to the upside with declining crop ratings and a ridge that appears to be getting stronger. Several places got rain, but several that were forecast got missed. Beans light it up for 59 3/4 cents on the back of strong meal and short covering going into Aug deliveries, 1532 3/4. Wheat pops 33 3/4 to 803 3/4. Nice pop, but we are still talking about only $8 wheat in the face of the Russia/Ukraine conflict with no end in sight. A bit worrisome in the big picture to me. Corn gains 17 to 597, and rice bounces another 16 1/2 to 1709 1/2. Dow spent a quiet day softer, 31,732, off 235 and making all the trade since last Tuesdays close worthless. Bonds up another 23 tics, 142.04, and briefly over 143. That's just crazy talk in this world events cycle. We better get some kind of relief out of the Fed minutes today.
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