Monday

Monday trade just looking for news to feed the bulls.  Quiet corn weekend and commitments had the large spec adding to an already long position, so the bears pushed, 549, off 8 3/4.  Bean oil limit bid, which put pressure on meal to keep crush numbers in line, putting meal off $11 for the day, and beans up only 1 1/4 to 1417 1/2.  Bean oil is approaching more resistance to me from here on, and although I wouldn't try to call a top, oil has a way of spiking and bleeding off.  If oil slips, meal should benefit, but the whole soy complex could get soft if oil rolls over.  Wheat done looking lower and a tight range day left us 1/4 higher, 627 1/4.  Rice up 7 in quiet trade, 1321 1/2.  Dow looked lower early but closed up 116 points, 32,619, pulling back most of Fridays leak.  Bonds up a point and 5 tics, 155.08, and trying desperately to put in a base.