Friday

Friday trade opened with a bearish jobs report hitting financials and follow thru bean oil liquidation dragging the grain room.  Dow opened off 400 but upside pull went on all day and we closed up 30 points, 34,459.  Bonds were off over a full point but also recovered to 9 tics better, 129.27.  More bean Oil liquidation (funds net long 105,000 contracts) put pressure on the soy complex but meal and beans fully recovered.  1438 1/2 beans were 8 3/4 higher.  March Corn has rolled over on the back of some pretty small deliveries, 646 1/4, off 14 1/4 and the Dec/March spread out to 15 cents, while march wheat drops 22 to 761.  Carry markets bring fund selling and that's what I believe we are seeing, a reset to the funds algorithms.    Rice dead and low volume but leaked 16 lower just with a lack of any buyers, 1763 1/2.