Wednesday

Heat is on/risk is on for Wednesday trade.  Dow raises its head 178 points, 34,522 and bonds rally a point and 28 tics, 120.07.  Markets just tired of going down for now to me but there is a possibility with Jackson Hole that something got leaked.  Meal bid again and soy up 14 1/2 to 1360 1/2.  Corn gets a solid 11 cent bounce, 490 1/2 and wheat up 10 3/4 to 612 1/2.  Dec river freight still has a 4 handle and I would bet that the bulk of what China does buy will ship Pacific NW.  That's what the river is telling me and that is not enough to fix basis.   This is shaping up to be one of those years where the farmer that has to sell off the combine could get really hosed, both flat price and basis.  Don't allow yourself to be in that situation.  Rice off another nickel, 1544 with mostly spread roll again.