Friday

A bit of a risk off day Friday as pretty much everything drifted lower.    Corn off 3 1/2 to 530 1/2.  Oats up 31 cents and over 650 is potentially the canary in the coal mine that we might need to start watching closer.  Wheat down 7 1/4 to 734 and beans drop 4 1/4 to 1243.  Rice off 10 1/2 to 1373 1/2 but the bull looks to be willing to defend again.  Dow down 12 points, 34,626, and bonds off 22 tics, 157.24.  Bonds and oats both saying to pay more attention to inflation, as well as crude, cotton, Nat. gas, etc.   When prices go up, people tend to hoard as a knee jerk reaction.  Tuesday WASDE is probably going to be a very important report for how we formulate trade moving forward.