Friday

Friday trade pretty much was a sell the rumor buy the fact with a bit of a delay.  Thursday the funds tried to work grains lower in waves and really didn't succeed nearly as well as it felt.  Meal was a surprise to the bid side and beans went along for the ride, 1174, plus 14 3/4.  Solid corn recovery from Thursday as well with a 6 3/4 cent bounce, 435 1/2.  Open interest dropped 20K as some of the short-managed money probably decided they have been at the bear dance long enough.  Wheat up 4 1/4 in sympathy, not sure whether that's with corn or KC but still a bump up to 556.  Rice break didn't last long as the bulls showed up Friday and the bear withered away, 1723, up 36 cents.  Dow took it on the chin, off 494 points, 38,238 undoubtably concerned about geopolitical risks over the weekend and bonds up 31 tics, 116.07 on a small flight to safety.