Thursday

Thursday started with solid export sales and more talk of Russian corridor issues or outright closures to give the grain room a base but weaker Dow and some flight to quality in bonds kept new money near the sidelines.  Beans looked good early but faded to an option supported 1279 1/2, off 8 3/4.  Quiet corn off 3/4 at 479 1/4.  Wheat bounced from Wednesdays drop, 579 1/2, up 11.  Rice gained 12 1/2 to 1624 1/2 on spread roll tightening.  Interesting that the spread is firming as the roll and liquidation seemed to be moving in an orderly fashion.  Dow hit for 274 points, 32,876 and below the 33K psychological support while bonds gained a point and 15 tics, 109.28.  Could be an interesting weekend coming up with options expiration Friday in Nov beans and Rice, followed Monday by first intentions for November deliveries.  I would expect new receipts to be registered in Beans and rice after Monday close.