Wednesday

Wednesday brought pre report evening up trade and weak long liquidation in front of what is generally accepted to be a bearish report Thursday at 11.  Beans off 10 1/2 to 1189 with weak meal.  Corn tests the lows, 434 1/4, minus 4 1/2.  Rice gives back 9 cents, 1848 1/2. Wheat the outlier with a 7-cent bounce, 602.  I would remind you that these are not the times or conditions to be pricing a crop.  Sometimes you have to step back and let the computers have their way.  Dow up 161 points, 38,774 and bonds slip 5 tics, 120.27.  More are recognizing that Powell won't cut 4 times this year unless things are bad.