Strong out of the box Tuesday morning, sticking it to the trend follow sellers from Monday close. Corn was the leader and held well all day, 696 3/4, plus 17 1/4. Dry Brazil weather has some forecasting up to 15 mmt less corn out of Brazil this year, and the world doesn't have room for that kind of loss. If Brazil really does go sub 90mmt production, we could have record yields and still get $5.50 a bu. on the low end. Wheat up 8 3/4 to 726 3/4. Meal and oil both showed some bids, and beans gained 14 1/4 to 1538 1/4. Rice got a fuse lit and what appeared to be fund buying, but I would note that cash stayed bid as well. 1413 1/2, plus 39 1/2. Dow closed up 12 points, 34,020, but that was after probing down 350 points. I'd be wary of another look down there by the computers, and I don't think it would take much of a story for them to run with it. Bonds up 12 tics to 158 even, and Yellen said there might be a need to raise rates to calm down inflation. She got her hand slapped promptly for stepping out of line with the truth, and she quickly got back in her little box. When the truth out of Yellen is immediately shut down, a person should take notice.
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