Thursday

Thursday had soy exports to China as early fuel, but market faded more than 20 from the highs to 1195 1/4, off 1 1/2.  Corn down 7 1/2 cents, 433 3/4 but really stopped at resistance and so far, held support.  Afraid we are going to be in range trades for a bit.  Wheat off a dozen to 532 1/4 but Russia acts like they have found a floor so even if wheat tests the lows I wouldn't expect a lot more downside.  Rice off 11 to 1786 1/2. Deliveries are done so if the funds are going to try an upside push, I would expect it in the next week.    Dow drops 174 points, 39,347 and bonds off a point and 17 tics as well, 118.23.  Bonds nearing the bottom of my range for this move.