TGIF!!!!  The overnight markets were lower again.  Corn was called down 10-15, beans down 30-35, and wheat down 20-25 cents.  The strong dollar helped lead most commodities lower overnight.  Crude oil was down about $2/bbl.  Informa released theie crop estimates.  They have corn production pegged at 12.406 billion bushels with a yield of 156.5 bu/ac.  And have bean production pegged at 3.035 billion bushels with a yield of 41.4 bu/ac.  Both those numbers were higher than was expected by the trade.  There were more rumors of Hedge funds liquidating positions due to heavy losses.  The funds were good sellers of 7000 corn, 6000 beans, 3000 wheat contracts on the day.  Technically, Dec. corn closed below the psychological $5.50 mark, and Nov. Beans closed below $12.00/bu.  Many of the oil refineries in Louisiana should be back with power the next few days or so. We got around 5 inches of rain here in Dalton City over the past few days. TS Hanna seems to be heading toward the Eastern Seaboard, but will not be a major threat to most but will probably drop lots of rain.  Hurricane Ike is projected to head right at Florida next week.  Will have to see how the energy markets will play the forecasts of those two.  It will be interesting to see how the rains have affected the crop ratings for next week as well. 

For the week, grains were lower.  Sept corn was down 36 3/4 cents.  Dec. corn was down 36 1/2 cents.  Sept. beans was down $1.52/bu.  Nov. Beans were down $1.47/bu.  And, Dec. Chicago wheat was down 49 3/4 cents. 

Have a good weekend!!!!!!

Cory

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