Corn opened strong Tuesday but couldn't hold and tapered all day to a 329 close, minus 1/4. Managed money is universally bearish corn as globally in the northern hemisphere there are no major weather threats. Since we will be dependent on weather until harvest, I suspect some will get jumpy before then. Even though we are at record shorts in corn for this time of year, it is just a number as long as their group conviction stays in place. Beans off a couple to 867. Dog wheat resumes it fall, 496, down 8 3/4. July rice off limit 95 cents with more built into the spread. Sept hovering around 12 bucks, but I'm a little nervous. Dow pops for 518 points, 26,193, and bonds drop a point and 20 to 175.22.
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