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.
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