Thursday

Thursday trade muted by increased rain opportunities in the forecast.  Corn slips 10 1/2 to 660 1/2.  Beans down 14 1/4 to 1500 1/2.  Meal couldn't hold the rally, as expected and put a drag on soy.  Bean oil did seem to base.  739 wheat was a 4 1/2 cent winner with more talk of shortfalls in India and China as well as the Russia corridor issues.  I have trust issues with wheat.  Rice picked up another 16 to 1761 as we play with options expiration.  Looking to see what strike they decide to pin.  Open interest in rice compared to options allows for some goofy things to happen for Friday close but depending on how it plays out, next week action a well.  We might see outsized action around the strikes in all the grains for Friday trade.  Dow lower most of the day in standard churn trade, 34,210, minus 25 points at the end while bonds loose a point and 5 tics to 127 even with the global bankers stirring the higher rates tax on anyone with debt talk.