Thursday

Thursday corn traded higher on big shipments, but a 2 3/4 lower close, 532 1/2 blamed on poor sales.  Pretty sure both numbers were on the same report.  Beans up on solid ships but fades to 1410 1/2, plus 3.  Bean oil is getting squeezed providing support, but meal remains soft.  Great meal ships by the way.  Wheat off a nickel in churn trade, 651.  Rice down 10 1/2 with nothing but order flow and not much of that, but decent sales and shipments.  Dow down 358 to 30,878 with a 900 point range.  Notice how the systems keep opening up the ranges in an almost linear fashion?  Bonds leak another point and 14 tics in broken record decline trade, 158.20.  Now we get a softball statement out of the powers that be in DC about allowable inflation.  Bonds will have hiccups, but this failure is just getting started.