Tuesday

Ugly day Tuesday in the grain room with funds selling everything.   Meal and oil especially soft and that let beans get whacked for 36 3/4  cents in July futures, 1364.  Corn off 11 1/4 to 581 1/4 and wheat pushed 13 1/4 down, 647 1/2.  Rice liquidation nets a 44 1/2 cent break in the front, 1741 while new crop is off a dozen.  Our 3 way rice options trader started ringing the register as 1740 is the floor for that trade.  Bonds off another 21 tics, 129.04 and the Dow drops to 33,060, 338 points lower and near the lows of the day.