A bit of a delay trade Thursday morning as people digest the FED comments, which give me give me great pause. Dow bled, tried to hold, bled, tried to hold, failed. 392 point lower close, 34,337 and I'm surprised it didn't get worse. Bonds lost 2 points and 9 tics, 116.09 for a new low close and a lot of long bond owners starting to reassess what they really own. Longs in the beans giving up with a 26 1/4 cent break, 1293 3/4. Meal and oil soft. Corn off 7 to 475 1/4 and wheat drops to 575 3/4, minus 13. Rice harvest pressure with us off another 16 1/2 to 1579 1/2. Finding a home for grains in the delta is already starting to show its head, as feared.
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