Tuesday

End of month clean up and deliveries against may futures were the feature Tuesday and more concerns about the FED higher for longer pressure liquid money.  Treasury is coming with a big round of borrowing and bonds give back yesterday bump, 113.26, off 25 tics.  Dow drops 566 points, 37,993 and I hate to say it, but other than the close the market seemed to be trading within itself like just a bigger churn with a low settle.  Soft day in Ag as someone has to write a check for the deliveries, although when everything gets current quickly, there are usually no more shorts to run out.  Beans hit for 19 cents, 1163 while wheat loses 5 1/4 to 603 1/4.  Corn off 2 1/2 to 446 3/4.  Rice just thin, 1928, minus 18 but the key in rice is thin.  I am surprised how quickly and how wide rice spreads and May positions have moved.  Expected more commercial ownership desires.