New week, new news. Crimea bridge bombing has most concerned that the Russia corridor will not get extended. I suspect that it will, because Russia has lots of wheat to still move. Wheat pops 57 3/4 to 938. Lots of air on both sides of the wheat market. Corn up 15 as well, 698 1/4. Beans rally on strong China hog and meal margins with the hope that China shows up here with more bids, as well as the river is back up and running. Cash buyers still want to rob you on basis, but they just lost one of their stories. Beans looked near $14 but settled back to 1374, plus 7. Rice sell program is relentless, 1671 1/2, off 11. We have a large long spec position being slowly liquidated and a new short fund at the same time. One reassures the other for now. Dow off 93 to 29,260, and bonds lose a point and 12 tics, 124.05.
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