04-18-2013 06:51 AM
On the way into work this morning I saw the animals walking two by two. Not sure what that means but it sure is wet here. Cab drivers turning down airport runs because express ways are flooded and closed. That is more of a biblical earthquake than the animals!
Soybeans lead the way. Wheat not far behind and corn bringing up the rear as they all are in the green today. 13, 5 and 1 respectively.
Gold approaching $1400 on a bit of a bounce. Oil up $1.20 with big volatility in their option markets. The 10 year yield back over 1.70%.
We still have more rain to come. It will be interesting to see how the market spins this one.
04-18-2013 07:30 AM
Isn't it true that when it rains in Chicago, everyone there believes that rain makes grain?
04-18-2013 08:38 AM
Houston, we have a problem.
Now, compared to West, TX, a very small problem.
04-18-2013 11:25 AM
interesting comment about west Tx. We had a couple hundred acres near Junction (SSE Midland) back in 2000....................they were in pretty bad drought for couple years. But the bustin' happened quickly........we received a years worth of rainfall in about 8 weeks (22-24 in).....rivers running over highways---was a sight to see.......SO it can happen fast........looks like a similar deal going on in IA, IL, etc, now!
thanks for your story.
04-18-2013 11:57 AM - edited 04-18-2013 11:58 AM
CX, interesting times indeed. Today's corn market is most interesting. But, if you like drama, read that some believe old George Soro's has made a big play on the short side on commodities, especially gold, but others at well. The more things change the more they remain the same(remember the Hunt bros). Now, I figured the gold drop was tied to the Cyprus deal and people not trusting paper gold. But, who knows.
But, not that I care about Soro's money pile, but even he might lose if the weather doesn't cooperate. His billions are nothing compared to weeks of rain and no field work.
04-18-2013 12:30 PM - edited 04-18-2013 12:31 PM
didn't the Hunt bros get short squeezed (or bull trapped-however you say it)---couldn't liquidate while Silver was going lock limit down for several days-in-a-row?
read the East river basis in corn was less and Hardnox was saying that could mean elevators are capitulating?
i agree, fortunes have been made/lost when big players try to bully markets around sometimes-------happened in Nat gas around 2006, as well.