Tuesday

Nothing in Tuesday trade to get excited about.  On the bear side we will get a lot of planting done this week.  Funds are currently lightening a bit.   Bull side has tight global supplies, China looking for beans, a corn crop in SA getting smaller, no good wheat production anywhere, and heat throughout Asia, affecting wheat and rice outlooks.  WASDE Thursday at 11.  Beans up 7 to 1592 1/4 and its hard to make a case for the products to go much lower.  Wheat just another big churn, 1092 3/4, unchanged.  Rice bear pushed lower but got kickback and we closed up 6 cents, 1691.  Corn up 3 1/4 to 775 1/4.  Dow looked at new lows and bounced to only 74 lower at the end, but bonds gained another point and 21 tics, 138.19.  I'm uncomfortable being short futures anything with out an upside out of the money call to give me a stop.