Friday

Friday has the funds making sure their short positions look pretty on the weekly charts with beans testing a new contract low and closing 12 3/4 lower, 938 3/4.  Same with corn on the lows test, 370 1/2, minus 4 1/2 at the end.  Sept open interest has dwindled down to mostly options-based positions in beans, and corn O.I. much lower than Dec.  Not the story in rice at all with Sept still the lead in open interest, setting up for some fireworks in the next dozen days action.  Sept rice off 13 cents more, 1457 1/2 but kissing the numbers where ECO starts paying and whoever wrote the Nov and Jan puts Friday was all new and appeared to be commercial.  Dow up 111 points in a pretty quiet defending Friday trade, 40,794 while bonds picked up 13 tics, 123.22.