Thursday

Thursday export sales soft across the board, although I continue to be satisfied with ship rates, solid again in corn and meal.  More talk of dryness in SA and now the first excuses of weather here in America, and the corn lit up for 19 1/4 cents, 579 3/4.   WASDE Friday at 11 and as people run their calculators, and country cash bids firm, its hard to get bearish corn, even at these prices.  I also think most players thought there would be more fund liquidation in the May position roll.   Wheat up 12 1/2 as well, 628 3/4.  Soy Oil got a bit of a bid and beans gained 6 1/2 to 1415 1/4.  Meal had roll and liquidation, keeping the front soft for one more day.  Not much time left to blame meal softness on the funds.  Expect the plant shut down for repair stories to crop up by the end of next week unless oil blows up again.   Rice off 6 in another quiet day, 1311.  Talk of an Iraq tender for prompt ship and a solid medium grain Titan bid helping with the current floor.   Tomorrows rice number should be "interesting".   Dow in another quiet computer churn day, 33,390, up 62 points.  Bonds up 13 tics, 156.25.