02-13-2013 07:18 AM
I wonder what Valentine's Day Eve will have in store for us the day after the president's speech.
I guess we are back to the 'rain makes grain' trade right now. That is a little of the chatter that can move these markets on rather thin news days. As the equities go up, corn goes down. 8 days in a row now, the longest losing streak since March or 2010. Ugh.
And, to add insult to injury the bean market fell into 'official bear market territory'.
Wheat and corn getting hit again this morning down about 8 cents. Beans leading the way about 10 cents lower.
Equities will be up. Oil just a tad higher and gold a little lower.
All in all, don't think anything came out last night to make things jump. The financial news is warming with a better Europe and more economists predicting a US accelerating recovery. Not sure I believe them but I am not getting in the way.