Monday

Reports drop Monday and I would take most of the information with a dose of friendly, but not enough to bull up anyone.  We did have a slight gain in soy stocks, but I expect us to move to a weather market as soon as we clear the 4th weekend.  Holidays have a way of changing markets, and we have a lot of potential heat coming at us that most should talk about with the fireworks.   Corn off 2 1/4 to 409 1/4, but spreads are tightening, and river basis is paying the difference between now and sept, so the guy buying your corn is paying the same price in September, you just aren't the one collecting it.  Beans up a penny, 1018 1/4 and wheat slips 2 1/2 cents, 538 1/4.  Spreads are tightening here as well, but funds are short Sept and will keep a thumb on it.  Rice off 15 1/2 on a bullish report, but again, current stocks have to be sifted thru and the funds and commercial hopes to blow you out of any old crop left before this thing can breathe.  Dow up 264 points, 44,389 and bonds quietly gain a full point, 115.15.