Friday

Friday options expiration and liquidation trade.  Beans hit for 14 to 1483 1/2 with weak products.  May con off 1/2 cent, 663 1/4, but the rest of the months off about a dime.  Spot corn is a bit tight.  Wheat down another 6 to 661 3/4.  Funds like selling wheat.  Rice got a 13 1/3 cent bounce to 1691 1/2 which still left the 17 puts in the money.  Will be interesting to see how that unwinds but total May open interest is below 1000, so no big traps set in options expiration.  Dow up 41 points, 33,950 and bonds slip 13 tics, 129.29.