Wednesday

Wednesday was hump day and end of month and brought some interesting movements in certain products.  Dow grabs me the most after posting an early new record high at 38720 we faded over 400 points to close 38,280, minus 332.  Was this month end book juggling or a reversal top.  The longs will have to defend by the end of the week.  Bonds added a point and 3 tics, 122.11.  I was happy to see corn hold Tuesday action, 448 1/4 for 1/2 cent positive and beans do the same, 122 1/4, plus 3 1/2.  Wheat back below the buck on weaker global quotes, 595 1/4, off 10 1/4 and rice got knocked back down to support, 1786 1/2, off 31.  Decent volume there so be careful about size right now.