Thursday

Strong grain day Thursday as funds continue their buying spree in the Ag room.  Wheat soft early but bidding all day runs it back to 8 3/4 higher, 753 1/4.  Corn up 10 1/4 to 718 3/4 and December put in a solid day.  Beans popped 27 1/4 to 1569 1/2 with oil spreads weakening. but the total underlying products book firm.  Rice was a loser, off 21 1/2 because it appeared the fund didn't want to defend Wednesday purchases.  Dow up 324 and setting new highs, 34,442.  Computers have expanded the range for next week trade to me.  I'd be careful.  Bonds up 16 tics to close 158.20, and this is in the face of Yellen comments.  Another flashing yellow for me in the short term equities.