Friday

Markets revolve around Russia again Friday.  Wheat 75 higher and limit up again, 1209.  Corn looked at limit but couldn't hold it, 754 1/4, up 6 1/2.  Rice up 8 1/2 and trying to figure out who to follow, or if corn and wheat will drive us into more rice export sales.  Ratios say yes.  Beans leaked 7 1/4 to 1660 1/2 with meal firm but oil backing up.  Anything goes this year, so don't lock yourself into old ideas, and bring a big checkbook when you enter any exchange contract, because the computers will be hunting you.  As long as the story is Ukraine, wheat and corn production will be the lead.  We are already interfering with the early planting.   In America, anything could be on the table, from opening up CRP land, to price controls.  You can bet these prices are buying some acres to wheat from the other grains.  Dow had to bounce over 350 points from the lows to close 33,583, still off 155.  Bonds gained 2 points, 10 tics to 157.07.