Interesting day Wednesday. Beans up every day this week, gaining another 10 1/2 to 1074 1/4 with crazy strong meal. Hearing there may be some issues with SA meal fulfillment but this seems to be a domestic driven run. Rice bear wouldn't defend and the buyer didn't have to buy many to get us into small stops, 1645 for a 24 cent gain. If a neutral to bearish report wasn't in the cards, we could have gotten silly I believe. Medium is as high as 875 from $8 bucks a week ago. Corn up 10 3/4 and the N/U spread gained 16, with July closing 770 1/4. Wheat the laggard again, off 5 3/4 to 915 1/2 on us missing the Egypt business. News flash, we were never going to get any of that trade, but now almost a million tons of wheat is no longer for sale in the global market, and the first whispers of India having production trouble are surfacing. Record heat in March and stupid high Fert prices are about to show their ugly head. Dow almost asleep, 30,999, plus 66, and bonds gain a point and 25 tics,136.30. Very interesting revelations by Powell and Lagarde today. Hope to do a write-up between reports tomorrow on the global financial picture.
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