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Thursday morning started off with great export sales in corn and beans and more talk of even more Chinese business, but the market just seems to be out of steam. Corn couldn't attract new buyers and faded to a nickel lower close, 353 3/4. Same story in wheat, off a nickel, 553 1/4. Beans, which have the best story by far, managed a 4 cent gain, 966. Rice crop is getting worse by the day, 1234 1/2, plus 6. Dow rolled over and fell 739 points, 28,351. All kinds of BS stories, but my reality is the computers couldn't find even one more sucker to buy, so its time to blow out all the new bulls. Bonds up 21 tics, 177.28.
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February 2023
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