Wednesday

Wednesday market nothing worth noting with Wheat up another 9 1/2 cents, 594 1/2 on short covering but not enough stories to keep fuel for the bull.  Corn slips 5 1/4 to 437 3/4.  Still think the 440 May strike will keep us captive within a dime thru Friday.  1166 beans off 1 1/2 and front meal is leaking spread money into discounts.  1920 rice up 1/2 but Funds seem kind of full and the May open interest is under 1000 so not much left to roll to add size.  Winding down bull markets are not fun when you are last at the dance.  Dow leaks 46 points from a killer big rally these last several days while bonds drop 26 tics, 113.29.  Odds of FED dropping rates is being priced to nothing.  I would argue until spending is put under control, they can't drop rates and still place debt.