Thusday

Thursday trade mostly Tepid firm with corn showing best, 444 1/2, plus 4, wheat up 1 1/2 cents, 507 3/4. and beans showing its age, 1052 1/4, off 6.  I would not fade a weak bean settle on Friday.  Rice puts up contract lows early and has a key reversal higher, 957 1/2, plus 19 1/2, over 30 cents off the lows.  These rallies on the long break so far have not had a second day of buying, so Friday action is pretty important.    Note to all farmers, make sure you have your certified acres in, I believe they are due by the end of the day, 12/19.  Switching to March on the Dow, 48,321, plus 81 points in a churn trade and bonds up 15 tics, 115.23.  Softer inflation numbers the story but really, we just trade to the low of the range and market rejected it.