Wednesday

Pre-holiday trade Wednesday with dead bonds, 172.28, minus 1 tic, and a Dow churn where they looked at the highs early and closed off 170 points, 29,828.  Deliveries just around the corner in wheat and corn and the Wheat got hammered  for 23 cents late, 588 1/4.  Clearly overdone but something to keep an eye on as far as global indications or just thin trading.  Corn closes 420, down 5 3/4.  over 33k of Dec, OI unwind.  I would note that there isn't much OI left in Dec wheat or corn so that ship has mostly sailed.  Beans off 7 1/4 in a mild pullback, 1184.  Rice gets a 100 lot buyer to double the whole days volume very late, post settlement pricing actually, so we settle 5 1/2 higher, 1244 1/2.  Curious if there is something in delayed exports, or just a fat finger trade.