Thursday

Thursday trade led by beans firm all day and closing 45 1/2 better, 1726 1/2.  Story is a big fund liquidated a 2 to 1 long corn and short bean spread, but open interest doesn't show any wholesale blowout.  Wheat got pushed down to 1115 on Russia supposedly allowing an export corridor, but bounces all the way back to 1143 1/4, off only a nickel.  Corn down 7 1/4 to 765 but the country is still bid.  Rice picks up 20 cents on India discussing halting rice exports, 1727 1/2, and I believe it's a bit too early for that to happen, although I would almost expect it later in the year if there is any issue with the monsoon season.  Dow strong all day and up 524 on the close, 32,600, and bonds holding in there, 141,22, off 5 tics.