Friday

Friday trade a dog in the grain room, with corn off 14 1/2 to 684 1/2.  Corn had a range as high as 703 down to 673.  Oats off 7 and seem to be rejecting $4.  Wheat off 3 to 680 3/4, but better Russian wheat forecast.  That can be a longer term drag.  Rice off 8 to 1285 but Sept is now top step and the spread went bid.  Beans got ugly, 1508 1/2, down 35 1/2 with oil falling hard and meal stable, but this has been an oil lead rally and an oil lead break.  Dow up a single point, 34,462 after a 300 point churn.  Bonds off 3 tics, 159.07.