Equity markets saw some continued strength on Wednesday but the momentum has slowed. More volatility and movement was seen in commodities with markets like gold, grains, and cattle drawing attention.

Did the fat lady sing?  Is the jig up?  We will know more tomorrow, but for the time being, the closing of the southern border is believed a bullish black swan event, at the top of the market, for which wasn't believed that big of an ordeal to begin with.

Wheat is mixed at midday, with the winter wheat exchanges posting strength. Chicago SRW futures are up 5 to 6 cents as we trade through Wednesday’s midday. There were 18 deliveries issued against May CBT wheat overnight, all stopped by a Marex customer. Kansas City HRW futures are posting 9...

vorn futures are showing 2 to 3 cent gains in the nearbys, with the new crop months down fractionally. There were another 16 deliveries issued against May futures overnight, all by an ADM customer. The nearby CmdtyView national average Cash Corn price is up 2 3/4 cents at $4.16 1/2....

The soybean market is trading with fractional to 5 cent gains on Wednesday, with front months leading the strength. There were 2 delivery notices for May soybeans overnight, with 53 for soybean meal and 317 issued for May soybean oil. The cmdtyView Cash Bean price is up 3 3/4 cents...

Wheat is slipping lower so far on Wednesday morning. The wheat market saw Turnaround Tuesday action, with winter wheats posting gains. Chicago SRW futures turned higher on Tuesday, with nearbys closing up 2 cents. Preliminary open interest was up 6,617 contracts. There were 18 deliveries issued against May CBT wheat...

Corn futures are showing weakness early so far on Wednesday, with 2 to 3 cent losses. The corn market was lower on Tuesday with contracts falling another 4 to 6 cents across the nearbys. Preliminary open interest was up 11,001 contracts on Tuesday. There were another 16 deliveries issued against...

The soybean market is trading with mixed trade on Wednesday morning, July is up 1 ¾ cents and November is down a penny. Soybeans saw contracts pulling well off their lows on Tuesday, with contracts up 1 to 2 cents in the nearbys. Preliminary open interest was up 3,023 contracts....

I've seen some discussion about the supposed correlation between gold and wheat as a reason to be bullish the latter (or bearish the former).

The wheat market saw Turnaround Tuesday action, with winter wheats posting gains. Chicago SRW futures turned higher on Tuesday, with nearbys closing up 2 cents. Kansas City HRW futures closed with 3 to 4 cent gains. Minneapolis spring wheat futures saw continued weakness, with losses of 3 to 4 cents....

Soybeans saw contracts pulling well off their lows on Tuesday, with contracts up 1 to 2 cent sin the nearbys. The cmdtyView Cash Bean price was up 1 3/4 cents to $10.22 3/4. Soymeal futures were down $3.80 to $5.20 so far on the day, with Soy Oil futures rallying...

The corn market was lower on Tuesday with contracts falling another 4 to 6 cents across the nearbys. The nearby CmdtyView national average Cash Corn price was down 4 3/4 cents at $4.14 3/4. Crop Progress data from Monday afternoon showed the US corn crop at 62% planted as of...