Cleanup continues with September positions in front of delivery in a pretty orderly fashion so far, but with carries in most markets that helps. We need to be out of any Sept longs by Thursday close to avoid delivery risk. Corn gives back a couple cents, 365 1/4 but wheat gains another 6 to 514 1/4. Russians have again this year beat the global price down for wheat but this year they ultimately will have a lot less to sell. Beans give back Tuesday strength, 958 1/2, minus 9 and the rice front month mini squeeze hit a wall with Sept giving up 19 to 1513. Open interest in all the front month grains has fallen to very manageable numbers so I really don't see much fireworks, other than potentially some new selling by smaller commercials after the long weekend of harvest in rice. Dow off 178 points, 41,178 and bonds slip 6 tics, 123.31.
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