Wednesday

Wednesday trade firm, pull back, and firm up the close.   I think the margin clerk had something to do with this round of strength, as OI gets hit hard going into deliveries, exposing the short that cant deliver.  Normally its the long pushed out first.  Corn up 5 1/2 to 559 1/4.  Total corn open interest down 50K on the day.  That's pretty big for an up day.  Beans close 1423 3/4, plus 17 3/4.  With a 20K drop in OI. Meal looked like it found a base, rallied strongly early, bud faded.  Bean oil still carrying the water for the crusher, and he couldn't be happier.  Wheat up 14 1/2 to 680 1/4.   Rice up 3 1/2 to 1287 and we re into the total receipt count in volume left in March, so shouldn't see any fireworks there.   Dow expands range again to 600 points and closes 424 higher, 31,916.  Bonds off another 20 tics to 161.17, but that was a full point off the low.