Friday

Friday trade makes me want to look back on the weeks closes and ranges and contemplate computer churn and how much it affects our decisions and emotions.  With carry charges in most everything and a perceived comfortable level of stocks, we can pretty much depend on this type of trade moving forward until there is a material change in supply or demand.  442 3/4 corn on Fridays close was off 4 1/2 for the day, but up a paltry 2 1/2 from Monday close.  1188 1/2 beans off 14 3/4 on the day, but only off 5 3/4 from Monday close.  Think about how those 20-30 cent daily ranges played with your emotions.   Recognize that it is by design.   Wheat off 1 3/4 to 599 3/4 and hugging the buck again.  One half cent off last Fridays close.  Minus 6, plus 12, minus 10, plus 6, minus 2. Churn.    Rice did gain 33 to 1843 1/2 but we are experiencing a material revision of what are the remaining stocks in the USA are, with river business and poor milling yields catching some domestics flat footed.  I think I'd wait on anymore rice sales until WASDE on the 8th.  Dow hit new highs Friday and settled up 140 points, 38,765.  Bonds off 2 points and 4 tics, 121.29.   Can't for the life of me understand Thursday bond rally, and the market doesn't want to buy it either.