Wednesday

Wednesday morning finds more corn exports to China as they seem to be wiling to buy anything edible in any quantity people around the world are willing to sell.  There is still a month or so before the world crawls out of its collective cocoon and looks around to discover that in the dark of winter and covid, their pantries have been stripped nearly bare.  Early bird gets the worm.  Corn up 3 3/4 to 558.  Wheat leaked 7 to 340 and if they are going to roll over the Ag complex to spook the heard, either in front of, or with the Acreage report, wheat will be their likely first cut.  Meal below 400 but recovers an the spreads stopped weakening, so beans bounced from the lows, but still off 5 1/2 on the day, 1417 3/4.  Seller absent in rice and options trade is bullish, 1321 1/2, up 20 1/2.  Dow continues its march higher, 32,904, plus 180, and bonds drop 22 tics, 155.05.  Catching the dull knife that is the bonds falling might not just give you losses, but tetanus.