Friday

Feature of Friday was what looked like fund buying in corn to get 3 higher, 553 3/4.  Open interest was off 31K and I guess a few shorts in sept stayed too long.  Monday is first intentions in all the grains, so make sure you are out of all sept positions before the close.  Funds are long net at least 270K of what is now almost all Dec corn.  One day we will be talking about big crowd, small door I believe.   Sept Wheat gave up 6 3/4 to 718 1/2 Friday.   13K OI drop there.  Beans off 3 to 1323 1/4 with meal backing up.  Meal doesn't seem to want to get too far from 350.  Sept 1323 rice is off 8 and we are down to within 300 contracts of outstanding receipts so we should get current with Monday night deliveries.   Dow puts on its usual Friday push, 35,403, plus 243.  I would expect some back and fill at the least early next week.  Bonds recover 14 tics, 164.16 in a pretty dull trade.