Friday

So many new calls got into the money in the Ag room thru the week, and the short sellers got killed.  Wont be many tears shed for the decay guys.  After a soft start Friday, all the grains got another bid going, with corn settling up another nickel, 655 1/2.  May/July spread 23 over and oats traded 410. although they did back off to 399.  Corn open interest gave up 39k in liquidation so this is an options assisted short squeeze.  Rice up 7 cents, 1343 with spread liquidation and 350 new calls in the money for the week.  Does someone want the receipts?  Spread has enough carry a real commercial could step in and lift 1000 from the bankers for awful cheap, and control a chunk of inventory for the summer.  Beans give up 20K of OI with May options settling, and gain 6 1/2 to 1539 3/4.  Wheat stalled Friday at 710 1/4, unchanged, but holding nearly 60 cents of rally on the week.   Up a day, down a day Dow ends the week on an up note, 33,941, plus 232 points.  Bonds slip 5 tics, 158.09.