Tuesday

Tuesday trade set up for the WASDE report and to me it was really a punt again.  Every change could basically be a rounding error.  Market was soft going in, digested the numbers, then went back to the downward push that depression can bring.  Crude getting a punch in the face was a pretty clear marker of where the big money is headed.  Beans down 53 3/4 to 1468 1/4, wheat off 42 1/2 to 814 1/4, and cor drops 43 cents, 594.  That's an ugly grain room.   If you step back and look at prices one week ago though, all we really got was one big round turn churn.   Rice off only 8 1/2 lower, 1645, and receipts are starting to get cancelled as the industry has to use up the last of the easy access product.  Dow leaked another 174 points, 30,966, and bonds close 20 tics higher, 139.11.  Bonds looked over 140 again and faded over a point off the highs.  Seems like the TV has everyone promoting bonds as a safe haven right now, so maybe bonds are done to the upside.