Tuesday

Tuesday a bit of a base forming trade with meats getting a solid bounce, Dow up 72 points, 35,445 and bonds up 11 tics, more importantly holding the Monday rally, 116.12.  Beans held the lows and recovered 16 3/4 to 1346 1/2 but meal was a dog and we may be finally rejecting the 460+ meal values.  Lots of fund longs there so I worry about the drag on the whole complex if they want out.  Rice up 14 in nothing trade, 1738 and wheat gains 9 1/2 to 543 3/4.  Still pretty cheap to me.   Corn the sole laggard, 451 1/2, off 4 on final liquidation in front of Wednesday close first intentions.