End of month trade Tuesday pretty ugly everywhere. Dow gets hit for 620 to close 34,457 and bonds gain a point and 22 tics, 163.22. Talk of how the new covid variant could severely affect global air travel, and the fuel demand that goes with it, at the same time the driving season is ending isn't very positive to oil consumption. Wheat gets hit for 35 cents, 787 1/4. Corn off 14 3/4 to 567 1/2. Beans down 24 1/4 to 1217 1/4 with weak oil. Rice off 26 cents, 1403 1/2. Liquidation trade in all the grains as open interest drops, and with the year winding down, I see no reason for open interest to want to grow between now and Christmas.
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