Tuesday

Tuesday soy gives back more than 1/2 of Monday gain.  Some talk of soy gaining acres from wheat losses and really a quiet export market.  1322 1/2, off 18 3/4.  Wheat up 16 from feedlot priced levels, 622 1/4.  Corn gains another 6 1/2 to 577 1/2.  Crop isn't even fully planted and the conversations have switched to dry weather as well as some prevent plant up north.  Rice down another 14 1/2 to 1669 and we have some interesting options activity in the June puts with only a few days to expiration.  Looks to be some form of trap being set between 1660 and $17.  Dow off 228 points, 33,132 but really just more of the same churn that wall street mostly has become.  This Tuesday close only a measly 72 points better than last Tuesday with a ton of noise in the middle.  Bonds up 5 tics. 126.30.