Wednesday

August meal squeeze continues and beans along for the ride, 1578 3/4, up 46.  Corn up 3 1/4 to 600 1/4, and wheat 13 1/2 lower, 790 1/4.  Rice in a quiet day and off a penny, 1708 1/2.  Open interest in corn and beans still not showing the upward bias Id like as we are in liquidation as much as a weather run.  Maybe the weather story is why the shorts are being forced to pay so much for their attempt to bully.  Fed raised 75 basis points as expected and nothing surprising out of Powell, so Dow pops 440 points to 32,172, and bonds surprisingly up another 20 tics, 142.24.