Friday

Delayed export sales Friday morning had solid wheat and corn sales, great bean, meal, and rice shipments.  Corn closed 5 1/2 higher, 425 1/2, and wheat gained 8 1/4 to 596 1/2.  We will be switching to March corn and wheat  futures as deliveries start with Mondays close.  Beans gained 7 3/4 to 1191 3/4.  Not at all ready to roll over.   Rice up 23 as more buying surfaced to move us past the 1250 area selling,  1267 1/2.  We know the commercial will pay 5.75 to keep the pipeline moving so this pop is not surprising, but it will take more work from 575 on without a new export player.  I was very happy to see Venezuela in for 30K in one shipment.  Dow had a 300 point churn day and closed 46 higher, 29,874.  Bonds gained a full point to 173.28.  Need a few more days to believe there is a confidence that the financials will stay stable.   I still expect more fireworks between now and Jan 20.