Tuesday

First notice day Tuesday had some adjustments to the spreads as we finalize positions for delivery in the grain room.  Sept beans off 21 3/4 more to close 1513 with a 1480 low, flushing a buck and a quarter down the drain on the suckers that kept their calls on Fridays close, while Nov beans were off only a nickel, taking some of what was an excessive premium out of the front.  Something to put in your memory for the future.  Same basic story for the meal.  Wheat drops 21 3/4 to 798 1/4 as the ships keep moving in the Russia/Ukraine corridor.  Corn down only 4 to 679 3/4 and several players looking at a lower corn expectation for the Sept WASDE and declining crop conditions.  I'm not as negative in my travels, but I have no real time in Iowa.  Rice picks up 15 cents, 1743 and cash buyers all appear to have accepted that to source anything they have to pay $8 or more.  Dow off another 300 to 31,775 in a continued painful slide lower, with bonds up 7 tics, 136.25.