Tuesday Ag trade lead by Dec wheat, 564, plus 11 3/4. Don't get use to wheat carrying the water. Beans up 1 1/4 to 954 3/4 and corn rallies to close 1/4 higher, 358. Corn had an open interest increase for the first time in the rally as funds are net buyers on the top. I don't see them fighting the combines very long, but stranger things have happened. I do believe what we have to sell off the combine needs to be priced here. Rice off 12 1/2 to 1223 as the fund short, who doesn't see the wind or rain damage, keeps his foot on the throat. Dow continues the up move, 28,622, plus 206 points while Dec bonds pick up 20 tics, 176.11.
Comments are closed.