Thursday

Export ships in corn acceptable and we needed to look up, 556 1/2, plus 7 1/2.  Oil leading the beans again, and beans pop 16 3/4 to 1377 3/4.  I would note that going into deliveries, August oil faltered late in the day and is worth monitoring.  If the bio component slips, it could be painful for beans in whole.  Wheat disaster continues to unfold in the tour, 705 1/4, up 16 1/2 Sept futures, but way less powerful of a move than I would have expected.  Rice up a couple, 1368 after looking at the 85 level but getting commercial selling in March to keep a lid.  Dow up 140 to 34,974, and bonds slip 7 tics, 164.05.