Friday

Friday WASDE report a buildup to nothing.  Computers trying to make people make emotional moves to churn by year end so lets try to not be emotional.  Corn up 1 1/2 to 644 and wheat hit for a dozen, 734 1/2.  Cash corn says either we don't have as big of a crop as the USDA thinks or the farmer hasn't had the bank force him to sell yet.  Funds are a big short wheat and getting bigger.  Smaller bullish news could have bigger effects in what is a thin and getting thinner market as we approach the new year.  Beans close 1483 3/4 after trying and failing near the buck, off 2 1/2.  That's with $470 meal that the world can't really afford but some fund can.  23K open interest meal increase on the week.  Those are Michael Jordan numbers.   Other than video games, he don't play no more.    Rice off 4 to 1671 1/2 and new fund selling is not working, options 3 way bullish trades for another 150 contracts as well.  No reason to be short rice futures for most, at least for now. Dec  Dow settled like a dog, 33,498, off 305 and bonds lost a point and 3 tics, 129.29.  Last Friday we settled 129.27.  Give or take full point settlement changes every day thru the week for 2 tics net.  This is year end churn.  Don't get caught in year end churn.   In anything.