Tuesday

Tuesday was a catch your breath day, with rice unchanged, 1607,   Corn up 1/2 to 321 1/4. Beans give back 2 1/2 to 842 1/2, but meal seems to be bottoming.  Wheat has a small 1 3/4 bounce, 498 3/4.  Dow just getting churned, abet with wider margins, 24,158, off 349.  Bonds base and rally 15 tics, 178.20.  First big typhoon has a bullseye on the edge of India, and more importantly,Bangladesh.  We will know more tomorrow, but this one has the capacity to do some significant rice and grain damage, especially for Bangladesh.  The continued rains in Arkansas has me dropping acres, and 100K acres would change everything in the balance sheet.  I will stress that I would prefer to be long in the field rather than futures, so do what you can, and good luck.   Funds are a big short in corn, but didn't seem too nervous as corn faded 4 cents off the highs.  Going to need some more fundamental bullish stuff to push these computer boys off their position.  We have a tendency to kill every crop, and the season is just beginning.  We will lose acres, and possible large acres in N. D..  Maybe that will be the match.