Thursday

Exports delayed Thursday morning and nothing new to feed the bull.  USDA outlook gave us a bit of a bearish corn story for next year and there is real concern about how far we are behind in corn exports, 660 1/4, off 13 3/4.  Beans off 5 1/4 as well, 1534 1/4.  Wheat did claw back 1 3/4 to 738 1/4.  Rice fund bear at it again, 1681, down 21 1/2 cents and adding another 670 contracts to open interest in the process.  March options expire Friday so make sure you are cleaned up out there.  Dow stalled for the day in a churn trade, I think trying to set a base, 33,182, up 103.  Bonds up 17 tics, 125.03.