Tuesday

WASDE report dropped beans down to 120 CO, about as expected, but left plenty more corn and wheat out there to keep a drag on the market.  Beans up 14 to 1401 3/4 but off the highs and pushed back over the buck for the close.  Corn numbers north of 1.5 leave us with more ending stocks than the computers had expected, and that will be a drag, especially after we get Thursdays big export shipments out of the way I am afraid for the short term.  Wheat off 6 1/4 to 649 1/2 with nothing numbers and corn down 7 1/2 to 556 1/4 with at least 100K more carry over than most expected.  Rice gained a small amount of LG CO, basically a punt, 1291 1/2, minus 5 1/2.  Dow had a quiet 200 point churn after posting new highs, and closed 10 points higher, 31,278, while the bonds just slept, 167.04, unchanged.