Wednesday

Solid open to hump day but mostly a poor close in the grain room.  Wheat off 1 3/4 to 534 1/4 but that's a dime off the highs.  Beans lose 2 cents, 1039 1/4 but 17 off the top.  About the same drop in corn, 449 1/4 close, minus 6 1/4.  Ouch.  Funds are swinging to the short side a bit early to me in corn with exports where they are but given how well they made it stick last year, you have to respect the action.  Rice did get a 11 1/2 cent pop on pretty low short cover volume, 1303.  Bonds gained 20 tics, 115.12 even with Powell punting until June and the Dow up 296 points, 41,214.  It's about time we start to hear about new trade/tariff deals, and I suspect the insiders know this could have friendly results to the markets.