Wednesday trade around Powell and a 1/4 raise as expected. Dow looked 200 higher but closed off 516 points, 32,258. Remember how the market got marched up the two days prior? Classic churn. Is the whole world really this easy to keep afraid? Bonds up 31 tics in sympathy, 130.31. Meal a $9 dog and beans off 18 1/2 cents, 1448 1/2. Hearing the CME margins on short soy options to force some players and market makers to the sidelines and trade sure acts like it. Money is tightening where its the most liquid everywhere and this is probably just getting started. Keep close to the vest and some liquid cash. Wheat off 19 3/4 to 663 1/2 and the world that grows wheat is scrambling to see it to raise cash. Rice off a penny, 1725 1/2 and corn up 3 1/2 on more china sales and funds already short.
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