Thursday

Thursday exports were strong in corn, yet we faded 6 3/4 to 546 1/2.  I thought bean and meal numbers were fine for this time of year,   still surprised how much meal we are shipping and the lack of Chinese cancellations, but oil goes limit down, dragging beans 18 1/2 lower, 1414 1/4.    Meal was $3 higher, and we are still talking about $14 beans.  Its unlikely that the oil market is finished for the year, or any of the soy complex for that matter, but markets sure seem tired going into a big report day on the 31st.  Cant rule out a nice 8-10 percent pullback.  Already did it in oats and wheat as we speak.   Wheat down again, 612 1/2, off 12 1/2.  In wheat, we have to be looking at feed values and the meats pricing is surely not culling the herds.  Rice down 24 1/2 as the buyer took a day off and the seller pushed, erasing Wednesday gains.  1315 settle.  Dow looked lower, but rallied strong to close 32,501, plus 182, while the bonds didn't do much, 156.22, off 2 tics.