monday

Short covering in corn continues going into the china announcement on Wednesday.   389 1/2, plus 3 3/4.  Rice dropped 10 1/2 cents to 1322 1/2 with the first day of declining open interest in a while.  Don't rule out the fund defending tomorrow and possibly trying to put on a show, but he better plan on defending every day for a while.  Beans off 3 3/4 to 942 1/4 with a soft oil market dragging the crush.  Wheat gives back 2 1/4 cents, 562 1/4.  I think some have come to the conclusion this grain market is a buy the rumor, sell the fact event.  Dow continues its melt up, 28,871, plus 94 and bonds slip 12 tics, 157.08.