Monday

Monday trade after what amounts to the first harvest weekend for Brazil soy softer across the grains early, and not much recovery thru the day.  Beans off 16 1/4 to 1490 1/4 and the bounce from early lows driven by meals $9 rally from the lows.  Corn off a dime, 666 1/4, and wheat down 21 1/2 to 720 with cheap Russia wheat and the European market rolling over as well,  Doesn't matter how cheap US wheat gets, the rest of the world just drops their price accordingly.  Its the cycle I fear for beans in the near and getting nearer future.  Rice gets another 11 1/2 cent pop to 1822 1/2 with tight US supplies and rumors that all of SA is about done selling.  No doubt rice is tighter now globally than we have been for several years.  Dow continues the rebound, 33,727, plus 253 points in a pretty tight range and bonds slip 20 tics, 129.27.