Friday

A fair amount of buying across the grain floor Friday as the hot and dry weather of SA leads the headlines, and fund buying seems unlimited, and is getting closer to record territory.   Beans up 23 cents, 1410 1/4, with meal $14 higher and almost 15K more open interest in the bean market, over 23K in the complex,  as new buyers put in a new high in Nov beans, 1321.  Corn up 3 to 606 3/4.  Rice gains 5 1/2 to 1476 1/2 on a pretty low volume day.  Wheat dropped to 735 early but recovered well by the end of the day, 758 1/2, up 12 1/2.  Dow traded a quiet Friday, 36,107, off 16 points.  Bonds dropped 26 more tics to 155.04 and below where I thought this down swing would go.  Fed should do some jawboning Monday or Tuesday.