Thursday

Early trade Thursday in the Dow 300 higher, but faded thru the day with concerns af more aggression in the Ukraine, ending 124 lower, 34,358.  Bonds dropping 2 points and 4 tics, 141.02 didn't help.   That was a bit of an unexpected head fake as bonds acted like they had set a base Tuesday.  Until they start talking depression/recession, its too dangerous to buy a bond contract.  worth repeating, for bonds and Ag,  Don't fade the thesis.  Wheat took a break and settled off 17 cents, 1096 1/2.  Beans had a 6 1/4 rally with solid products, 1682 1/4, and corn picked up 6 3/4 to new highs, 790 1/4.  Worth noting that the funds got to roll at premiums.   Cash in the country over $8 in places.  Rice had over 1000 spread roll in a very tight full carry based range as well as 275 new bullish options in the gray market and something clearly stirring in the cash, 1619 1/2, plus 43 1/2 for a solid weekly close.  I'm told river freight has softened for May shipment,