Tuesday

Bean market lit up Tuesday without any real stories for 22 1/4 cents, 1472.   Maybe the big call short is getting nervous?   Oil was hot again(200 higher) and meal was up a couple bucks, although the spreads weakened a bit.  We still have a few weeks of excess meal supply to chew thru.  What is important to me is we could continue this bean rally without anything big in the news front.   Corn up 14 1/2 to 606 1/2 with some strong basis quotes for cash out there.  Wheat closes 659 3/4, up 7 1/2 on the day but well off the highs.  Rice in yet another dead spread roll day, 1284, off 1/2.  Rice is stuck between a bit too much supply currently and a known shortfall coming at us in the year ahead.  Dow off 255 points, 33,703 with a desire to catch its inflation driven breath, while bonds rally 21 tics, 158.05.