WASDE Friday didn't disappoint. Corn carry over down to 2.1 and corn responds with an 8 cent rally, 395. Beans CO down to 290 and futures pop 15 1/2 cents, 1065 1/2. Beans did press against some decent resistance at 1080 and that will be the next area to fight thru if this rally is going to continue. With open interest in the funds and total OI both so large, we may need to set back to catch our breath. Its all dependent on china sales and fulfillment of those sales. Wheat was a nothing day with a 593 3/4 close, off 1 1/2. Rice had big stops before the report and broke 80, but recovered to 1246 1/2, minus 19. Ugly report. Dow was a relatively quiet up trade, 28,518, plus 208. Dull bonds as well, 174.01, minus 5 tics.
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