Thursday

Thursday morning export sales in Soy especially gives hope that we are finding a price where business can get done and I expect to see a firming in river freight or at least some firming in river basis for quick off the combine exports.  Should help in grading as well.  Stable bean pricing with Sept up 5 1/2 cents, 1382.  Nov picked up 4 to close 1325.  Rice buyer back for a 14 1/2 cent gain. 1608.  Harvest really dialed up down south could become a drag soon though.  Wheat a drag on corn again, 627, minus 13 and corn off 7 1/2 to 480 3/4.  Sept Dec corn spread is weakening every day as we put carry into the market and Wheat is looking for VSR to be reinstated.  That attracts more short selling systems.  Instead of VSR, we need to be evaluating why companies don't cancel wheat receipts for end use.  Topic for another day.  Dow off 91 points in a regroup day, 35,312 and bonds puke a full point and 30 tics, 120.11.