Thursday

More jockeying of positions in front of the big report next week and month end rolling out of July was really the feature for Thursdays trade.  Big volume leaving July corn had it down 11 cents, 653 1/4, while Dec bounced 20 from the lows to settle about flat.  July wheat dropped a dime and July rice off 11 cents 1323 1/2.  In rice, I'd say the short is done being squeezed.  Oats popped for another 11 as we look to have set the intern low for the little grain.  Beans off 13 3/4 to 1371 1/4 with meal the drag again, even with solid export sales.  I don't know where all these beans to crush are coming from, but I'm guessing there will be an "appearance of inventory" in the stocks numbers.   Its about the only way I can reconcile what has happened this year in the soy complex.  Bonds up 5 tics, 159.30, while the Dow rallies another 323 points to 34,082, nearly 1000 points up from last Friday's ugly close.