Monday

Monday trade surprisingly stable in the grain room and a bit of a head scratcher after a good harvest weekend.  Corn up 1 1/4 to 426.  Wheat gained 2 3/4 as well, 592 1/2.  Rice good for 2 pennies after checking 1530 and rejecting it again, 1511 1/2.  Beans only gave up 3 3/4 cents, 1034 and that's with meal resetting.  Dow on the other hand looked awful and lost 401 points, 42,245 but really just a bigger churn range.  Bonds off 21 tics, 121.10 and if bonds don't find a floor soon it's a clear sign that the big money boys and the FED aren't on the same page.  Or maybe they are using the FED to dump their long-term debt as well as they can.  Wink, Wink.