Big news Wednesday is Powell comments that were interpreted as friendly by the street, although I'm guessing behind the scenes he told the bankers that he wasn't going to be as aggressive in his money supply tightening, which by the way I see it, is almost non existent anyway. Dow rockets up 742 points, 34,599. Bonds gain 10 tics to 127.10. Beans picked up a dime on another cargo of beans to china, 1469 1/2. Wheat got a solid 14 cent bounce from delivery lows, 795 1/2. Corn couldn't keep it rally going and deliveries didn't help, still 677, off 2 1/2. Rice dropped 8 1/2 to 1781 with a 1780 iceberg and now the behind the scenes 3 way shows up for a 50 lot. Sometimes with what is called legal today I feel like Ray Charles trying to judge Miss America.
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