Wednesday

Wednesday trade mostly just computers churning inside of ranges.    Corn up 6 1/2 to 560 1/2 with Wheat basing, 616 1/4, plus 3/4.  Beans looked on both sides but settled off a dime, 1408 3/4.  Still think it will take a curve ball on the WASDE report to push much below $13.80- $14 for any period of time.  Inland basis is too firm, and meats setting new highs does nothing to discourage domestic demand.    Rice up 4 cents, 1317 and the spread roll is firming.  I'm blaming it on order-flow for the moment, but it bears watching.  Dow in another quiet churn, 33,328, up 13 points, while bonds slip 5 tics, 156.12.