Dow strong again Wednesday with some surprise earnings reports and what I believe might be signs that the Fed might move the US to a negative interest rate environment. That's my call, not the talking heads. Give them time, they will figure it out. Bonds off 15 tics, 181.12. Corn up 1 3/4 as the fund sellers either took a break, or are getting full at a bad time to be short in the calendar. 304 1/2. 220 new corn receipts registered but dates are still very old. Beans gain 5 3/4 to 831 3/4, with light meal deliveries and no beans. I call that friendly. Wheat off 7 1/4 to 519 1/2. No deliveries. Rice closed at $18, up $1.14. That's a stupid high number, and with only 7 deliveries, but 344 still open, there is a commercial struggle going along with a spec short squeeze. I'm betting that regulatory is getting involved as well about now. For reference, I can buy 50# of milled USA rice, from an Arkansas company, at Costco for $17.49. Almost 2 pallets full today when I was there. I'm betting all that unused restaurant rice is starting to need to find a home.
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