Friday

A fair amount of window dressing going on Friday where there was little resistance.  Dow up over 1000 points in 24 hours from Thursday lows, and settles 31,347, plus 643 points.  Bonds up 15 tics, 140.01.  I think sticky high 130's to 140 in the bonds is making people see that the Fed may have 2 more hikes in them at best, and the full point in July is getting less likely.  Commitments showed us the funds have got short wheat and thus the 18 1/4 cent markdown for the weekly close, 776 3/4.  Beans off 5 1/4 to 1466, but Nov was higher.  Corn off 3/4 cent, 604 1/4, but again DEC was higher.  Rice up 12 1/2 to 1652 1/2 and the longs that needed to find the door have.