Tuesday trade all about liquidation of July positions and squaring up before the Wednesday USDA numbers. July corn shorts taking a hit as cash is firm and they don't have inventory to deliver, 19 cent pop to the good with a 694 1/2 settle. Dec only up a penny. Rice delivered current as expected and I'd say a good piece of that went to real commercial hands, 1325, plus 9 1/2. Beans up 2 3/4 to 1359 3/4 and bean oil has retaken its bio fuel theme. God forbid if we actually do get tight on meal this summer. We should get a better handle on that at 11. Wheat off 6 1/4 to 639 3/4. Dow up 6 in regular churn trade, 34,170, and the bonds gain a tic, 160.03.
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