Friday

Friday opened with an early bounce that couldn't hold and we leaked lower across the grain floor.  Beans down 26 to end the day at 1307 1/4.  That's a pretty impressive fall from grace.  Meal soft and below my support.  Commitments had the funds adding 18K to meal longs last week while I had expected it to be down at least 20K, so I missed that read.  Helps to explain the late week meal weakness.   Wheat down to 605 3/4, off 6 3/4 while corn holds 554 1/2, off only 3/4 cent.  Rice down 27 to 1706 1/2 and commitments shows that mostly those looking to trap old crop shorts are getting trapped.  If you don't know the mark at the table, its you.  Dow off 112 points giving back part of wed/Thurs rally, 33,496 and bonds off another 24 tics, 127.05.   Planting pressure should mostly be wound down by Monday close and next week will be debt ceiling talk all week.