Friday

Rebound trade Friday with beans recovering all Thursday break, 1150 1/2, plus 16 1/4.  Kind of interesting that there is no real carry or discount in meal spreads from May to October.  Funds also sold a bunch more oil and to a lesser extend beans on this week's commitments, so they are getting far over their skis.  Wheat up 13 1/2 to 550 1/2 as we seem to be pretty cheap in the big picture and Russia probably is done selling inventory at stupid low prices.  Corn follows for a 6 3/4 cent gain, 433 1/2 and SA production is getting smaller, not bigger as well as a boost in EPA E15 fuel allowances.  50 cent range in rice but a dull settle to rice Friday, 19 bucks, off 1 1/2.  May open interest winding down.  Dow closes up 201 points, 38,208 after a beating down to 37,463.   Worried weekend ahead on the Israel front.  Bonds up 16 tics, 114.20.