Wednesday

Wednesday trade mostly just chop.  Argentina wheat production officially reported off even more from their ongoing drought and we tested technical 824 support and bounced, 840 1/2, plus 5 3/4.  Corn off 1 1/4 to 685 in a quiet trade and beans close off 1/4 after looking higher most of the day, 1381 3/4.   Rice still pushing out weak longs going into delivery, 1603, off 15 1/2.  Lower than I thought they could push it, but they are firing more sell side bullets than I thought they would.   Margin clerk stops helping the sell side after Monday.  Has me concerned if the funds loose their bullish flavor in the other grains.  Dow off 5 points, 31,872, and bonds gain a point and 13 tics, 121.15.