Corn down 5, beans down 8, wheat down 4

Crude Oil- 58.73 down .41
US Dollar- 97.14 down .27
DOW- 27,911 up 29
There was rumor yesterday that the Chinese had bought a bunch of beans from the US, todays story is that they bought less than what the market thought, as a result beans are down 8 cents with corn falling off 5 cents and wheat off 4 cents. There was a comment today that there are 500 million bushel worth of corn still standing in the fields in Michigan, which sounds like won’t be touched until after winter…. This doesn’t account for the acres in Iowa, Minnesota, the Dakotas, and Nebraska which you would think ought to support the market.
Stay tuned.
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