Wednesday

Wednesday trade led higher with risk on trade in the Dow, up 523 points on softer than feared CPI inflation numbers, 33,260.  Bonds off 14 tics to 141.30, but bonds traded as high as 144 before rolling over.  Seemed like a suckers rally in the bonds.  Corn up 5 3/4 to 621 1/4, but a dime off the highs.  Beans traded 3 1/4 lower, 1509, off 48 cents from the early high.  Wheat up 18 1/4 to 799 3/4 on a way past due bounce to still very low prices given the global food situation.  Lots of weight in the short term as Russia is expected to move a bunch of wheat quickly now that the shipping channel is open..  Ukraine I'm not so sure of.  Rice off 5 1/2 late and nothing to note, 1694 1/2.