Friday

Nice bounce back in corn Friday to end the week at 446 3/4, plus 5 1/2 on the day.  Wheat looked a little lower early but stalled and recovered to 533, unchanged.  Meal gained 10 bucks and beans rally 11 1/2 to 974 1/2.  Rice has what appears to be an aggressive fund short seller, 1407 1/2, off another 33 1/2.  We are on the cusp of making every expiring Jan. put in the money, and I can't see who would deliver $14 rice in January, especially with milling yields where they are and the river wanting anything that would mill at board terms.  The next 10-15 days in rice is going to be choppy and thin.  At some point the trap will get sprung.  Dow up 519 points, 43,316 after an 1150-point range and bonds recover 15 tics, 114.16.