Friday

Friday brought churn trade to the grain room, with beans 15 better, lower on the day and ultimately closing unchanged, 982 1/2.  Nov rice up 13 to 1482 1/2.  We will be switching to Jan for beans and rice moving forward.  Corn up 3 3/4 to 414 1/2 in a tight range and wheat slips 2 1/2 cents, 568.  Puzzling how weak wheat is and how firm oats are.  I'm not hearing any stellar yields out of corn or beans on the tail end of harvest.  Dow recovered a chunk of Thursday break, 42,209, plus 262 points but bonds broke a point and 5 tics, 116.26.  I still think the big money is slipping out of their long duration debt, so I don't want to catch the bond knife.