Tuesday

Mostly a Monday/Tuesday type trade with corn giving back 2 1/4 cents, 449 1/2.   Beans gave back their little pop as well, 1178, minus 10 1/4.  Meal off 8 bucks didn't help but meal is still fixing the silly fund overpriced long position they accumulated.  Wheat recovered 19 cents of Mondays loss, 626 1/2.  Rice continued its leak, 1754 1/2, off another 17 1/2.  More rice receipts getting cancelled but expected.  WASDE Wednesday but nothing really moving expected.  At some point the USDA will have to cut SA corn and Russia wheat production, but Egypt's recent wheat tender went off at a lower price than their last one, so European suppliers still are competing for the real trades.  Dow needed a healthy bounce to get back to 38,794, still off 135 points on the day.  Bonds bounced back 26 tics, 117.19.