Monday

Dow off 485 points Monday on China unrest and a toppy market in general, 33,871, while bonds slip 6 tics, 127.13.  The grain market had each piece behaving on its own.  Wheat off another 18 3/4 to 756 3/4 as we approach first notice and the margin clerks force out the last of the longs.  Funds are short in a very big fashion.  Corn up 3/4 cent, 668 3/4.  Beans got a 21 cent pop to 1457 1/4 with fund buying overwhelming China risks an what still looks like a solid Brazil crop.  Rice broke 50 almost out of the gates but there was 100 of 1780 puts that allowed for 100 futures to be bought and that put in the floor with a bounce back to 1793 at the close, off 19.  First Delivery intentions in the grain room for corn and wheat on Tuesday close, so clean up any Dec positions.