Wednesday

Just to point out the obvious, most markets are just being computer churned, and when it becomes too obvious, change occurs.  Not sure what, but time to keep a more watchful eye.  Humpday corn just recovers Tuesday drop, 423, plus 3 1/4.  Wheat recovery of 3 1/2 cents, 503 3/4 and beans pick up 4 to 1034 3/4.  Rice pummeled to new lows, 1026 close, off another 21, with 2.2 Bu of rice is now cheaper than a BU of beans.  It's time to say the quiet part out loud.   Just as funds have exaggerated the upside of cattle, but the ranchers get blamed and have to carry the negative, funds are in the process of unrepairable damage to the US rice industry and rural America, and rural Arkansas in particular, will bear the loss.  Dow gives back 353 points, 46,782 and bonds pick up 3 tics, 119.09.