Friday

Friday WASDE finally arrived, and although I didn't think it was some huge bearish report, the markets had built in a pretty bullish story.  I don't think many believe January will hold a 186-corn number, but we are a long way from January and one thing I have learned is don't fight the numbers.   Corn off 11 1/4 to end the day 430 1/4, right back at where we ran into resistance on the way up.  Beans off 22 1/2 cents, 1124 1/2 and meal held up a little better than I expected.  Trump still says China is on track and they will have an announcement soon, but the market is losing patience with "soon".  Wheat down 8 1/2 to 527 1/4 as the rest of the world hasn't followed our lead higher.  Really just an up and down churn week in wheat.  Rice up 11 1/2 to 1050 with the first mildly friendly WASDE print in over a year, and it seems like all of the delta players that had to sell have, so let's see what domestics will pay to stay running thru Christmas.  We have some small Latin export business, and the Iraq sales will keep our mills running.  Heard Co-op sold at least one of the 40K units cheap.