Tuesday

After a long weekend, grains are weaker on Tuesday morning with more talk of an export corridor for Russia/Ukraine grains to move.  Wheat gets pummeled as funds switch from long to short, 975 1/4, off 59 cents on the bloody day.  Corn follows 23 3/4 lower as well 760 3/4.   Reminder not to catch a falling knife.  Whole soy complex is lower with beans off 21 to 1681.  Rice off 9 1/2 to 1612 1/2 with 375 vs cash in July as commercials get pricing locked in down here, and we get July open interest down to 2100 a bit earlier then I expected.  Have 6-700 of July positions that I cant make out right now.  Dow pops for 656 points, 30,525, and bonds leak a point and 9 tics, 133.12.