Monday

I'd say in the grain room Monday the feature was the weak wheat performance giving back all Fridays rally, 578 1/2, minus 16 1/4.  Oats took it on the chin too and with a significant drop in open interest as these short horizon fund players come and go with painful results.  410 3/4 corn is off 2 1/2 while beans really held reasonably well, 1004 1/2, off 1 3/4.  Rice on the downside tested the buck before a full recovery to 1530, plus 3 1/2.  Nothing crazy over the weekend for the money boys and the Dec Dow bounced 232 points, 42,057.   We are switching to Dec for the Dow moving forward and I would like to note that if you are in one of those indexes the roll cost you 400 points, or 2000 bucks a Dow contract.    Ouch, the cost of passive investing went up.  Bonds up 15 tics, 127.06 in front of the FED dropping short term rates this week.  The only question now is how big the cut will be and is this a buy the rumor and sell the fact trade.