Monday

With Sept options put to bed we are entering the home stretch for delivery intentions after Thursday close and checks to get written next week.  In carry markets I usually expect lows to be made around first notice plus or minus a few days as there is no more room for bluffing and sometimes the guy who shows up with the checkbook wasn't on everyone's radar.  The delivery clerk has no other longs to tell they have to liquidate.  New lows Monday in Corn, 362, minus 5 3/4 and wheat, 498, off 4 1/4.  Beans fought the trend, 959 3/4, plus 7 3/4 and rice was up 8 1/2 to 1509 as well.   Financials were dull with the Dow up 65 points, 41,335 and bonds off 2 tics, 124.17.