Tuesday

Long weekend ended Tuesday morning with bids across most Ag.   Corn up 13 1/2 to 552 1/4, but the buying was short covering from last week by funds with no conviction, yielding a 20 K reduction in open interest.  Same story in beans, 1384 3/4, up 12 3/4, but OI drops16K there as well.  Meal was a drag all day, but palm and bean oil are rocking.  Wheat had new buyers pumped up on winter kill stories from the nasty weather currently affecting the entire Ag belt as we popped 20 3/4 to 657 1/2.  This seems to happen every year on a cold spell and I wouldn't chase wheat.Dow looked up new highs and closed 61 higher, 31,458, but that was a couple hundred points off the high and kind of a sorry close to me.  Bonds off another 2 points and 2 tics to 164.03.