Friday

Friday had wheat getting pressure again, 1168 3/4 close, off 31 3/4 and on the lows.  If you ever wanted to see a textbook painting of the market for the weekly chart, you just saw it.  Corn off 4 1/2 in tow, 778 3/4, but a much tighter range with a stronger domestic pull.  Meal up to 430 and oil has a bid again, so beans gained another 14 3/4 cents to close the week 1705 1/4.  Rice had a small buyer, 1716 1/2, up 18 and back to Tuesdays close.  Dow had a 1000 point range but closes up 11 tiny points, another reflection of who is making the money(computer churn systems) and who is getting chewed up in the process(anyone who trades with any emotion).  Buy high, kiss your money goodbye, sell low, no more money to blow.  Bonds gain another point and 6 tics to 141.25, really the upper end of where I thought it would be possible to go.  Next week we either set back solidly, or we need to re-evaluate what long term debt looks like, not what the Fed wants you to believe. It appears to me that two very powerful and opposing forces are at work in the Debt market, and when the elephants dance, the grass gets trampled.  Us commoners are grass.