Exports Thursday morning soft and Russia corridor talks still working so its hard to get the bull fed. Wheat off 14 cents, 627 1/4. We have finally broke 630 on a close for this cycle so Friday closer should be interesting. Of note, China hog profits weak and lots of feed wheat replacing corn at these cheaper prices. Corn off 11 3/4 to 582 1/4 with fears that more sales to china could be cancelled. Meal strong and probably finding a floor for now with Argy currency a mess and production down sharply. Beans up 1 1/2 at the end of the day, 1405 1/2 and that's 20 off the lows. Rice picked up another 5 1/2 and open interest still growing when you would expect a wind down. Still plenty of time for a futures showdown there. Be wary. Dow 231 weaker on banking concerns, 33,371 and bonds gain 27 tics with fear of debt ceiling issues pushing some out the curve, at least for the next month.
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