Wednesday

After what I perceived as a weak Tuesday close in soy, meal found a bid Wednesday morning and held it thru the day.  Soy came along for 24 1/4 to 1506 1/2.  Pretty impressive. And thin.   Risk on day in most of Ag as corn popped 8 cents, 682 3/4 and wheat gained 11 to 785 1/2.  Rice was off 20 1/2 to 1773 as we unwind January positions and we are past due a new bull story to feed on.  Dow leaked all day and settled on the bottom, 33,046, off 370 points.  Bonds off 13 tics, 124.29.  Thursday is first intentions so make sure to clean up any January positions before the close.