Monday

Monday trade consolidating in front of Tuesday WASDE at 11.  Beans gave up the buck and closed off 11 1/2 cents, 1093 3/4 and with the markets below the moving averages, one has to wonder what brings buying back to the table.  Corn off a penny, 443 3/4 and same with wheat, 534 3/4.  Rice gets a 16-cent bounce, 1014 1/2.  Rice risk is lack of exports, but these prices locally and globally will certainly reduce planting, the trick is surviving the supply excess runoff.  Dow off 208 points, 47,793 and bonds slip 16 tics, 115.03.  Reminder that WASDE report is expected by most to be a punt, so smaller changes might have bigger effects.  We might get a preview of current exports reality via shifts they make at 11.