Dow up 418 points to 21,026 but well off midday highs. bonds off a point and 3 tics, 177.24. Rates aren't going anywhere soon. Wheat up 18 1/2 to 580 with stories out of Russia restricting exports and France catching a bid. Rice pops 34 1/2 to 1362 1/2 as the $6 a bushel area holds, funds appear to be willing to buy small again, and importantly, Vietnam restricting exports briefly to ascertain their stocks position. Vietnam has a habit of selling most everything it produces with very little buffer, and the country doesn't want to export themselves into a domestic shortage. Beans off 5 1/4 to 881 1/2 as meal takes a $10 hit. Just funds who are long now looking at who is on board with them. I expect the meal break to be short lived. Funds will run the meal ramp just like they did rice. Corn up 1 1/4 to 348 1/2, but I must say, demand destruction from the ethanol shutdowns from Poet could easily offset our newfound exports. We wont be saying King corn for a long time I'm afraid.
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