Friday

Friday was a catch your breath trade, with corn off 3/4 cent, 324 1/2, and beans gaining 3/4 to 897.  August beans over $9.  The bean program is real and continuing.  Corn weather losses are up in the air, and it is reasonable to expect a solid hit to crop conditions.  No reason to sell in front of at least that.  Rice seller noticeably absent again and the market up 13 1/2 to 1189.  Wheat back to $5, plus 3 1/4.  Dow off 31 in a churn trade and bonds up a tic, 177.27.