Wednesday

Wednesday Ag trade looking at month end., quarter end, Stocks, and perspective plantings.   Lots of room for a curve ball and the market did not disappoint.   Stocks came in about as expected, but planting intentions had corn and bean acres way low.  Limit bid was the result, with beans 70 higher locked, 1436 3/4.  Meal and oil locked or bumping against limits as well.  Corn went limit up, 564 1/4, plus 25 and synthetically more than a dime higher than that.  Maybe with fewer projected corn plantings, nitrogen will stop its price increases.   Wheat got dragged along as a feed product, 618, up 16 1/4.  Nothing exciting in the wheat numbers.   Rice acres were slightly higher than expected and futures languished 4 lower, 1318.  A guy on the fence between rice and beans in the delta just got another push away from rice.   Financial markets had a boring throw away day, Dow off 27 in a relatively tight range, 32,898, and bonds slip 14 tics, 154.19