General Comments Yesterday it was noted that a pronounced level of profit-taking could become evident in futures contracts for the next week. Such activity became evident today. The need to take profits does mean that every day for the next week will result in a price decline due to significant selling, but it does not imply that the trade action is likely to be volatile. That increased volatility is what produces the run-up on option prices prior to key USDA reports.The market is likely to be wound up like a rubber-band by the close of next Thursday. (USDA's report will be published the morning of Friday, 10 August.) Experienced money managers know that it is much more acceptable to take profits and then later reestablish the position a...