Thursday brings good export sales and more China bean sales on daily flash, but WASDE gave a bigger crop in soy and corn. I would argue that the difference in soy is a rounding error, but beans drop 22 1/4 to 1343 1/2. We needed a bullish report to extend the rally and didn't get it. Corn found almost 2 Bu. and acre yield increase and they puffed demand to offset most of the gain. Corn off 8 cents, 468. Wheat down 11 1/2 to 580 3/4. Bond auction didn't go so well and bonds faded a point and 27 tics, 112.31 while the Dow set back 229 points, 33,944. Financials a bit shaky after a pretty big run.
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