Wednesday

Big bean sales reported to China on Wednesday met with buy the rumor, sell the fact trade, ending 1560 3/4, off 6.  Wheat up 12 1/4 to 795, and corn up another 5 3/4 to 665 3/4.  Corn open interest up tiny and wheat OI down.  Not the making of a big bull run continuation to me.  Rice off 4 1/2 cents, 1724 1/2, and that was with our big buyer adding 500 new longs at no gain.  Friday rice could have some fireworks if we get back down to the 1680-17 options strikes.  Dow in churn trade, 32,958, plus 57 while bonds lose another point and 2 tics, 136.14.