Tuesday

Mixed bag of trade Tuesday after a long weekend.  Corn up 10 1/4 to 685 1/4 with 19k of new long positions, wheat gains 8 to 751 3/4, and beans up a dozen to 1539 3/4 on the back of long fund buying and $480 meal.  Rice gives back 21 1/2 to 1793 1/2, back to last Mondays close.  Soy can stay up here as long as the funds keep buying, but when anything changes, like a steady flow of soy vessels out of Brazil or the meal market rolls over, and there will be a lot of rats wanting off the ship all at the same time.  Dow off 396 points, 34,020 and bonds slip 9 tics, 129.23.