Wednesday

Biggest story Wednesday was the Fed minutes and Powell kind of taking a victory lap as well as giving all the money boys exactly what they have been squealing for the last several weeks.  Specifically 3 cuts probable in the second half of next year.  Fed had no idea they should start until way too late but now they already know where the economy is going to be 6-9 months from now.   Dow loved it and popped 521 points, 37,488 to contract highs and big wall street bonuses.  Bonds up 2 points and 5 tics, 121.21.  Wheat off 20 1/4 to 605 1/4 in yo yo trade.  Corn back to the bottom of the range, 479 1/2, off 5 3/4.  Beans drop 16 1/4 as well, 1307 1/2.  At least rice managed a nickel gain, 1694.  Rice is cheap in the world right now, just getting it shipped before SA production rolls in.