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

OptionEye.....July 23rd

[ Edited ]

Good morning.

 

Drought maps going back 100 years show that this is the real deal. Nearly 1,300 counties across 29 states have been declared federal disaster areas.

 

With that said, the world is puking this morning and the selling pressure across the board is keeping the grain market in the red. Spain is imploding..trying to do its best impression of Greece.

 

Spain's borrowing will go to 9% which will be unsustainable. The Euro will make a move to 1.12 and our 10yr will try to go to 1.30 then lower.

 

Things are pretty tough out there.

Advisor
vrbuck
Posts: 912
Registered: ‎05-13-2010
0

Re: OptioinEye.....July 23rd

It hasnt broke any technical support areas, so it is just a buying opportunity so far.

Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010
0

Re: OptionEye.....July 23rd

It is amazing that Europe keeps putting off the inevitable and pushing things to the brink...... My guess.... It helps the politicians swallow the bitter pills that each country has to go through...... This has IMO been all fig out and just going through the process....... p-oed

This information is worth what you payed for it...... :~)
Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010
0

Re: OptionEye.....July 23rd

Scott..... Not so sure that all of those $$$$ just might come at the ag stuff because of this weather thing going on that might not of normally?........p-oed

This information is worth what you payed for it...... :~)
Veteran Advisor
c-x-1
Posts: 3,263
Registered: ‎06-26-2012
0

Re: OptioinEye.....July 23rd

Indeed vrbuck. good call.

 

Of course i am saying this after corn has bounced quite alot. My hindsight is as good as your foresight.

Veteran Advisor
Palouser
Posts: 2,402
Registered: ‎05-13-2010
0

Re: OptionEye.....July 23rd

Goldman Sachs predictting $9 corn and $20 beans.
Senior Contributor
GoredHusker
Posts: 1,709
Registered: ‎05-13-2010
0

Re: OptionEye.....July 23rd

Goldman Sucks may very well be right, but it's getting a little concerning seeing two major key reversals in two weeks time in beans and corn.  I guess it's a little early to call today one without knowing the close, but concerning just the same.  Roy Smith said a few weeks back that the traders always seem to know about a weather change a couple of days before the weathermen.  Maybe, we're about to witness a trend change in the weather?  It's most likely a little late for the corn, but it could be huge in beans.  Time will tell. 

Advisor
vrbuck
Posts: 912
Registered: ‎05-13-2010
0

Re: OptionEye.....July 23rd

It is working on a key reversal but fundementals are still bullish. Is there info not out there yet.
Esteemed Advisor
Hobbyfarmer
Posts: 4,215
Registered: ‎01-10-2012
0

Re: OptionEye.....July 23rd

[ Edited ]

I'm waiting for the crop condition report... can't be showing noticable improvement. The broader markets are tanking over the Europe thing again. Crude is down almost $4. Beans are down too much based on the lack of moisture, but corn with a 15 to 20 correction is still in the stratosphere.

 

I'll be ready for a turnaround Tuesday though.

 

 

It is over 100 here for the second day in a row and two more coming. Irreversable damage in most fields in the drought areas.

60% of the time, it works every time.

"Political correctness is a doctrine, fostered by a delusional, illogical minority, and promoted by mainstream media, which holds forth the proposition that it is entirely possible to pick up a piece of dung by the clean end."
Veteran Advisor
Palouser
Posts: 2,402
Registered: ‎05-13-2010
0

Re: OptionEye.....July 23rd

Traders are very oriented to short term technical stuff but seem quite deficient outside that area IMO. There some wise people, no doubt. I converse with analysts who have global networks and sources. They look for emerging info and pursue leads. Most of it is public domain. They have a good idea of emerging trends and policy changes. In the end the alert producer knows as much or more than traders. Traders are often in the reaction zone, not the proactive zone.

Traders don't know more than you or sooner than you. They work margins, not the big score. They have no frikking idea how this will turn out.

The current trend is more important than anything else.