Thursday

Exports Thursday morning a disappointment and risk off everywhere.  Yellen talking about political issues with China taking president over finances?  Talk about a step out of lane for prepared remarks.  Musk blows up a rocket and drops the price of Tesla's again.  Poor Tax return totals moves the debt ceiling talk up on the calendar.  Lots of things to move markets to risk off.  I was really surprised financials held in as well as they did with the Dow off only 124 points, 33,909, and bonds up 19 tics, 130.10.  Grains all weak with Wheat off 14 to 667 3/4 and corn hit for 8 1/2 to 663 3/4.  Beans off 9 cents, 1497 1/2 as the 1520 crowd gave up.  Rice K/N spread gave up the ghost from big premiums to 10 cents carry and May futures off 34 to 1678.  That's a buck below where I thought the options boys would want this market to settle Friday.