Wednesday

Wednesday trade a dog for corn and soy on a Monday/Tuesday type trade with a holiday delay mixed in.  411 corn off 7 3/4 and chasing the 410 options expirations Friday.  Some think 400 is in play but I think that's more hope than reality.  Beans break to the 1160 strike with an 18 1/4 cent loss to 1160 3/4.  With meal a dog and crush so cheap it drags beans pretty easily to the downside.  Options expiration on Fridays close could be an instigator to put some weak shorts into the markets on the lows so worth a close watch on Friday settlements for all the grains.  Wheat holds Tuesday rally, 583 1/4, up 1/2.  Dow up 35 points, 38,677 and bonds off 19 tics, 117.23.