Wednesday

Humpday saw new money flows into equities as the Dow ran up 464 points, 40,144 and bonds gained 18 tics as well, 120.06.  I attribute this to a looser than publicly stated monetary policy by the Fed and I don't expect them to severely tighten any time soon.  Russia seems to have stabilized their wheat export situation and wheat gained 4 to 547 1/2.  Hard to push wheat down much unless we have the acres wrong, and we will know that at 11 Thursday.  The rest of ag soft as corn drops another 5 3/4 to 426 3/4 and beans off 6 1/2 cents, 1192 1/2.  Rice off over a dollar in the last week as the long funds have mostly left the building, 1658 1/2, off another 21 1/2.  Report Thursday at 11 and no trade Friday.