Monday

Global financial security/stability was at the forefront of Monday trade, with the September Dow off over 1000 and closing down 858 points, 30,501, and bonds losing 3 points and 3 tics to 132.17.  So much for flight to quality.  Fed is quietly, or not so quietly, floating a 75 point hike this Wednesday instead of a 1/2.  There is only so much the FED can do without a governmental shift in policy.  If governmental policy doesn't shift, the fed has to overreact.   Markets recognize that, even if our elected officials don't.   Soy the weakest player on Monday, off 38 to 1707 1/2.  Meal and oil both weak and we had some flat price July liquidation.  Country seems to still be bid.  Corn closed off only 4 cents, 769 1/4, and wheat had a 40 cent up and down churn, settling up 1/4.  Rice bounced up 13 from Fridays push down, 1638, and that was with more July roll and Liquidation.