Monday

Monday trade firm as damage in Iowa is significant.  The visuals are pronounced and the funds were short corn or had pitched most longs in the beans case, so we were ripe for a bull story to gain traction.  Corn up another 6 1/2 cents, 331.  Dec made the perceived resistance at 340 a non event as it closed near 345. Not a time to loose track of the fact that we still have a large corn crop, so please don't get too over your skis bullish corn.  Important to see how the Dec 340 area acts today.   Beans up 15 1/2 to 912 1/2 and that gets us back to river bids at or above 940 spot, which we know the commercial can pay.  Might get tougher from here on for flat price.  Wheat gains 16 1/2 to close 516 1/2 and the funds will dictate where we go from here.  Rice up 8 1/2 to 1197 1/2.   Still don't see anything that takes us aggressively above  5.50 barring covid 2.0 or our atypical buyer options.   Another churn day in the dow, 27,775, minus 17 , and bonds seem to have found our expected floor, and if thy pop it will be another pressure point on the dow.  178.11, plus 1/2 point, or 16 tics.  Actually, Dow and bonds have been swapping leadership all the time lately.