Tuesday a bit of a catch your breath day in the financials as we went from maybe a 75 basis hike to already a for sure 75 basis hike. The Fed is more porous than my kitchen strainer. Dow off another 146 points to 30,355, and probably out of weak money to flush. Bonds off another point and 6 tics, 131.11. In the grain room, wheat got pushed the hardest, but nearing support in a big churning range, 1050 1/4, down 20 3/4 on the day. Beans off another 9 to 1698 1/2 but meal and oil are getting back to attractive prices for the buying side. Corn lower thru the day but only settles off a penny, 768 1/4. Rice bounce continues, 1655 1/2, plus 17 1/2 and again with spread roll and liquidation.
Comments are closed.