WASDE Thursday

Decent corn export numbers Thursday morning and a not as bearish WASDE report, as well as a massive fund short position gave corn a base and rallied 3 1/2 to 329 3/4.  Weather and order flow will be the driving factors until the next acreage update.   Tried to push beans lower but almost daily china sales again gives us a floor, 866, plus 1/2.  Wheat closes 499 1/4, off 7 and I think mostly done for the time being.   Remember, they harvest wheat somewhere in the world every 90 days and its the worst written contract for bulls.  Just walk away.  Rice down yet another 150 point limit, 1456 1/2 and over 1000 OI off the books.  Dow took a pounding, 25,165, off 1796 points and still too high to me, but its got air now to churn both sides.  Bonds up 2 points and 14 tics more, 178.11, back into where we can start a range again.