Tuesday

Tuesday starts the new month and old habits.  Funds short a bunch of corn and continue the push.  We closed sept corn 3 1/4 lower, 406, but that was 6 off the lows and a rejection of 4 bucks.  Beans rallied a dozen cents from the low to 1018 1/2, gaining a 1/4 on the day.  Wheat looked good as well, 549, up 10 3/4.  Rice bear on a 31 1/2 cent downward push looked to set a trap below $13 and got someone to sell 300 under the buck, only to get a dress, 1301 1/2 on the close.  Don't forget in the grain room the delivery clerk is done pushing longs out.  Weather will be the story for July.   Will be interesting to see if the seller wants to reload, but there is a lot of air above grains now, and everyone wants to be bearish.   Bonds only gave back 3 tics, 115.12 and the Dow up another 418 points, 44,807.