Monday

Monday trade firm out of the box with a strong overnight session going in, but faded thru the day and really gave us a bit of a soft close.  Corn up 3 3/4 to 637, but that was 30 cents off the early high.  Beans up 8 to 1522 but 30 off the high as well.  Rice has a bidder that seems to be covering shorts, 1653 1/2, plus 8.  He is very good at letting the market breathe and herding the sellers.  All solid marks of AI in the smaller pools.  Wheat slapped around for over 85 cents on the day and closes off 35 cents, 856 1/2.  Dow off 170 in a tight day, 31,140, and bonds up a point and 28 tics, 138.23.    17 days to a firmly inverted yield curve and counting.