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Senior Contributor
ShelladyOptions
Posts: 958
Registered: ‎05-03-2010
0

OptioinEye....Aug 16th

Good morning and happy Friday!

 

Abandoned acres. Dry. Possible early frost.

 

Maybe that was the perfect storm but finally we saw some short covering yesterday. We may have corn up for the week for the first time in a month. We are back to a weather market with a lingering threat of less acres. Only time will tell but our fields could use a little rain.

 

A lot of chatter yesterday about stocks and the 10 year yield. Stocks slid 200 and the 10 year spiked to 2.81% during the day. It is back down to 2.78% but there are definite nerves in the market. Traders are worried about a Fed taper and with this being a slow time of year I think moves in the market are exaggerated all over the place. Today stocks are bouncing just a little. Gold is off $1.12 to $1365.20 after inflation fears yesterday sent it much higher.

 

Oil is up .23 cents to $107.56 with ideas the economy is heating up and demand will return. I say that is way too premature but right now you can't fight the tape.

 

Have a great weekend.

Senior Advisor
BA Deere
Posts: 9,131
Registered: ‎05-13-2010
0

Re: OptioinEye....Aug 16th

I seriously was thinking today was Thursday, I lost a day here somewhere :smileyhappy:   If the trade was thinking we were crying "Wolf!" about prevent plant acres, boy are they in for a surprise.   Alot of beans were planted around here the 2nd of July on ground that was planned to go to corn.  we`ll need that 90º weather predicted for next week, but we`re losing daylight hrs fast.

 

Sounds equities traders got the fed by the short hairs, like kids in the back of the station wagon getting restless unless we stop for "ice cream".

"Courage is fear that has said it`s prayers"
Senior Advisor
kraft-t
Posts: 10,784
Registered: ‎05-10-2010
0

Re: OptioinEye....Aug 16th

26 cent gain in nov soybean future and they take 20 cents off the basis. Can win even on up days?

Veteran Advisor
roarintiger1
Posts: 1,633
Registered: ‎04-29-2011
0

Re: OptioinEye....Aug 16th

It's interesting to read that some of these market guys are saying that the PP acres still could be lowered......Say what?  Weren't the numbers put out by the FSA the actual CERTIFIED PP acres?   If they were, that PP number ISN'T GOING DOWN! 

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Senior Advisor
BA Deere
Posts: 9,131
Registered: ‎05-13-2010
0

Re: OptioinEye....Aug 16th

RT, a number of farmers took PP with a 1/3rd less payment to be able to plant beans. Many of those beans were planted in July and a gamble. I don't know how FSA counts it but Marketwise it isn't a "100%" acre if planted in july.

"Courage is fear that has said it`s prayers"