Thursday

Tax day Thursday had export sales soft and reasonable shipments.   Little rain talk is sneaking into the Brazil weather forecast to allow for some late pressure on corn, 590, minus 4, after trading to 601 for a new high.  Wheat looked lower early but recovered to 5 3/4 higher on the day, 653 3/4.  Meal and oil both had a bid, and beans gained 8 1/4 to 1418 1/4.  More spread roll in the rice and some long liquidation to go with it, 1305, off 11 1/2.  There is a fair piece of government give away rice going out the door in the next month to keep the mills running.   Dow up to 33,923, plus 299 and another new high.  Bonds rip 2 points and 4 tics higher, 159 even, with some wanting to believe that we can financially engineer prosperity with low to no rates in perpetuity.   It will be ugly when that comes home to nest, but it might just take a while to happen.