Biggest news for Thursday was a lower than hoped bio fuels pull for soy oil, with funds long 100K oil contracts. Not a good mix, as bean oil drops 450 point limit, dragging beans down 39 3/4 to 1429 3/4. Nothing exciting in exports and the corn receipts got recirculated causing Dec corn to drop a dozen and March closed 660 1/2, off 6 1/2. Wheat rolled over after a non event bounce, 783, down 12 1/2. Rice was pretty quiet, 1779 1/2, down 1 1/2. Dow gave back 170 points of a silly Wednesday rally, 34,429. I cant explain the bonds 2 point and 17 tic rally to 129.18, but my fear of the unknown by the commoner is very high accordingly. Did the computers just find a bigger hole to churn like the Dow has been lately, or is there a bit of the big money wanting the sidelines before the weekend events unfold?
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