Friday

Impressive Friday trade in the grains as beans turn perceived $12 options resistance into support, and there isn't much expiring options resistance above.  1220, plus 18 3/4.  Corn up another nickel to end the week 437 1/2.  Rice just spread roll, 1258, off 1/2 cent but really held firm from Thursday rally. Based on market action, I would expect some new rice export sales to be reported to either Haiti or Iraq, and that would be all milled business.   Wheat steady as well, 608 1/4, off 1/2.  Dow in yet another churn trade, after peeking at new highs we close for the weekend at 30,113, off 89,  and bonds leaked 17 tics, 172.04.