Wednesday

Fund Ag buying continued Wednesday with dry conditions in the I states and corn belt in general gaining new longs by the hour.  India is going to have a short wheat crop at this point, question is how short and wheat happy to be up another 38 3/4 to 734 1/2.  Corn trades 671, plus 27 1/4.  Beans rip 37 1/2 higher, 1514 3/4, as some months of meal see limit up, partially on oil seeing limit down.  1745 rice is 26 higher and chasing back to the 1760 options.  Dow fades 121 points, 34,235 as Powell is talking about more intervention domestically and globally to halt inflation.  Bonds up 3 tics in strange trade, 128.05.