Friday

Friday trade had month end and Aug first notice positions squaring thru the day, With bean complex taking most of the heat.  Meal and oil soft and beans hit for 28 1/2 to end the week 1349 1/4.  Wheat looked lower and then higher on yield concerns around the globe, but settled 703 3/4, off 1 1/2.   Wheat supply should be the lead story for quite a while, and that scares me.  A, that is in fact a big story, and B, that we have to look to wheat futures as a beacon.   Oats got whacked for near 15 cents and back under its brief peek above 450.  Corn off 1 1/4 to 545 1/4.  Rice was 20 lower with the last of someones selling, but we bounced to unchanged to end the week 1368.  Dow had a standard back and fill churn day, 34,842, off 142, and bonds picked up 18 tics in front of the weekend, 164.23.