CBOT trading was relatively subdued today with little new fundamental information coming forth, except the usual cadre of weather forecasts. Wheat futures moved higher on the back of less-than-ideal weather forecasts for the U.S. and abroad, while soybean and corn futures moved higher on general “cheap grain” and trade-agreement buying interest.  Wall Street is higher as of this writing with the Dow reaching a new intraday high after Fed Chairman Powell said he did not see evidence that U.S. equities have become overheated. That point has been questioned recently as the U.S. stock markets have rallied precipitously while equities in other areas of the world have languished. 

U.S. bond prices are higher as investors...