Computers tried to push Ag lower Friday morning but markets are more resilient than some expect, including me for right now. Corn powered back to close 1/2 higher, and 8 off the early lows, 539. Meats had another strong day, and that kind of action doesn't thin the herd, or downstream demand for meal this spring and summer, when beans will be scarce, and crushers wont be able to create new meal. All the same, Meal was a dog again and closed off $4, but beans pulled back to 1413 1/4, only off 1/4. That's better than 20 off the lows, and even though it leaves a decent hole below for the funds to test next week, it was a good showing for going into a SA harvest weekend. More talk of ASF in China but the market is shrugging it off, at least for now. Wheat off 4 but really not a terrible show there either, as no one big flushed, leaving the 50 day MA behind. Rice off 2 1/2 to 1299 in a dead trade to close out the week and March grain deliveries. Dow up 293 points and another new high, 32,772, while bonds continue their sorry break, 155.18, off 2 points and 11 tics, warning the world that inflation approaches, government stats not withstanding.
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