Phase 1 complete, sort of
China version 1.0 dropped today, with little details and a fair amount of confusion. Market reacted with mostly a sell the fact attitude. Corn off a penny and a half, 387 1/2. Beans took a 13 1/2 cent hit, 928 3/4. Wheat stayed firm, 573 1/4, plus 4 3/4. Global prices showing no signs of weakness. Rice took todays AB pricing in stride, along with a very large 423 vs cash trade, 1336, up 1/2. Fair amount of hope that china will lift wheat and rice, in spite of their recent run ups. Not like they don't have the money to spend. Dow up another 95 in a broken record up move, 29,029. Bonds gained 19 tics as well, 158.16. Bonds are near the point of telling me they don't trust this dow rally for much more.
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