Wednesday

Wednesday trade focused on the FED and its 75 basis rate hike.  Powell came thru as expected and calmly stated that life was going to get a bit harder.  Dow had a 900 point range where the churn guys had a heyday, settling 519 lower, 30,282.  If he gets his way, grains should hold up the best, but I strongly caution you not to make any unnecessary in life purchases right now.  Beans gave back Tuesday gains, 1461 1/4, off 17 1/2.  Rice off a dime, 1762 1/2.  Corn slips 6 1/2 to 685 1/2.  Wheat held its rally and extended another dime, 903 3/4.  Bonds up 25 tics on the fed move, 130.20, which is puzzling to me.