Friday

Dry Argy weather and firm meal lead beans 9 1/2 higher Friday as I struggle to believe funds are leaving the market as reported, but unable to confirm because CFTC still can't fix a month-old issue. 1518 3/4 close.  Corn up 6 to 639 3/4 but wheat lost 4 cents, 708 3/4.  Rice off 24 cents, 1735 as we price some more cash in the $8 range.  Concern about how a major new players rice will affect domestic cash if it all comes to market at once.   Pretty strange trade all for all and I wouldn't hang a hat on any of the Friday grain action as a bigger picture indicator.  Dow and bonds did in fact base, and we got a 396-point bounce in the Dow, 33,414, and bonds gained a point and 20 tics, 123.27.  Keep in mind we use to have a floor around 125 for bonds so we are just going back to see how resistance performs.