Thursday

Thursday started with a new reporting system for export sales that failed and had to be retracted.   I'll leave it to you to add the government comments.  Sept expiring Options are loaded for the long side, and we have been rallying on declining open interest, so it's not hard to get the set back that we did.  Wheat the worst as every day the Russia corridor stays open more wheat hits the global market, and Russia is the one bright light in ag production this year.  769 3/4, off 25 1/4.  Sept beans off 8 1/4 to 1552 1/2.  Nov was off 25 cents.  Corn down 8 1/4 to 657 1/2 and the 650 options have the biggest count, so if the market is around there late it is hunting a pin.  1716 rice is down 8 1/2 as the buyer added again with no profit for the effort.  Dow popped 315 points, 33,273 but really just a stronger close to a churn day, and bonds recovered a point and 12 tics, 137.26.  All financial eyes will be on Jackson Hole today to see if Powell is going to enforce depression or wave his right hand when we need to be watching his left.  Markets desperately want to interpret whatever he says as friendly.