Thursday

Thursday exports soft everywhere but corn.  Great Corn sales and shipments lead us out strong posting a 644 high but leak to 631 3/4, off 1 3/4.  Wheat followed, off 1 1/2 to 662.  Meal reset still taking place and dumping another 13 bucks up front with soy off 29 cents, 1419 1/2.  Margins on short soy puts is tearing up some of the players.  April will go off Friday.  Rice pops 30 1/2 to 1756 as we really start to squeeze the fund short and approach technical places where they presumably give up.  Could see a spike blowout soon.  Dow churn machine back on, 32,319, up 61 points and bonds up 26 tics, 131.25.