Wednesday

Wednesday grain markets gave a chance to buy if you were quick, then off to the races.  Ethanol is 1.20 now and that makes corn a much in demand domestic product.  I expect at some point USDA will have to increase domestic pull and exports, from an already tight number.   Corn up 19 cents. 625 1/2.  I had congestion in the 621-625 area, but the market sure doesn't.  Cut thru that like a hot knife thru butter.  Wheat up 13 1/2 to 673 1/4.  Rice was more spread roll and small long liquidation, but still closed 2 1/2 higher, 1286 1/2.  Bean oil hot again with no top in sight, and beans up 25 1/4 to 1497 1/4.  The options guys who write cheap calls for the decay getting killed for their efforts this time around.  Dow up 313, recovering all yesterdays loss and then some, 34,016, while the bonds took the day off, 158.04, minus 1 tic.