Monday

Solid new exports reported with flash sales of meal, corn and wheat.  China wheat purchases confirmed and we gain 17 3/4 to 620 1/2.  Big issue now is how much total they will take.  So far the short fund has not ran for the hills and as I sit right now I believe the cash market is happy to absorb the sales.  Wondering if we have just set a floor or something bigger.  We probably need to see china back at the trough to blow the funds out.  Oats up a dime.  Corn up 3/4 cent, 485 1/2.  River conditions have allowed for some unusual locations delivering against the Dec contract.  The farmer needs a healthy river.  The 1325 area didn't hold in soy and we lost 18 3/4 to 1306 1/4.  Rice short system testing the bulls which appear to be a bit over their skis, 1690, off 28 1/2.  Dow off early but recovers to 36,268, minus 35 while bonds slip 19 tics, 117.18.