Thursday

Lower acres and slightly lower stocks Thursday drove corn 15 1/4 better, 442.  Big jump in open interest so both sides have a bigger vested interest in how next week plays out.  Wheat up 12 3/4 as well, 560 1/4.  I think India's production and prices will be the next fuel if their internal prices don't slip.   Beans gained acres and supply, although I would argue rounding errors in the big picture, 1191 1/2, off a penny.  Rice off 22 1/2 to 1636 as funds are almost done with the big long unwind and I didn't see anything shocking out of DC on this front.    Some bullish option 3 ways in new crop quietly traded.  Dow up 32 points, 40,176 and bonds up 8 tics, 120.14.