'Short week begins Tuesday with China bean sales, old and new, and a 13 3/4 cent rally, 847. Meal was dormant, so its all on china back. Argentina peso in the dumper and the dollar weakened, so both are friendly to beans. Corn up a penny, 319, while wheat slips 2 to 506 3/4. That's still a mighty wide spread between the two. Rice funds spike July futures overnight and spend all day buying Sept. July up 19 but looking the roll right in the eye, and I don't see a July buyer to take their inventory. Delivery rules work in the commercial favor for July. I'll dig deep in the rule book for the specifics in the newt few days. Dow pops for 578 points to 25,002 and bonds leak a point and 9 tics, 178.31.
Comments are closed.