Wednesday

Wednesday trade had more follow thru buying in the grain room, with corn up 9 to 350 1/2 in September.  There was a sharp drop in OI, so we are seeing fund liquidation.  Beans up 14 1/4 with more new crop china sales talk, 891 1/4.  Wheat up 7 cents, 498 3/4.  Rice gained 12 to 1234 1/2 as a bull seems to be open to take any farmer hedging, planning one last squeeze on a late crop.  Financials were pretty quiet with the Dow off 114 points, 25,575, and bonds off 14 tics, 178.04.