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Senior Contributor
ShelladyOptions
Posts: 790
Registered: ‎05-03-2010
0

OptionEye....Mar 4th

Good morning.

 

Well, should get some decent news this week.

 

Non Farm payrolls on Friday as well as the USDA. I think that this week will be dominated by Europe and whatever perceived affect of the sequester cuts.

 

Equities are off their lows overnight...seeming a bit sluggish but they have the backing of the Fed. We look to be in a big upward trending channel. I am afraid to buy with both hands but that is exactly what is pushing us higher. The Fed and those that have missed the boat. I am a little leery on how this will end.

 

Wheat about 5 lower, corn about 2 higher and beans hovering around unchanged.

 

We are going to get an even tighter view of the economy this week that should help in assessing the trend.

 

 

Senior Contributor
jec22
Posts: 410
Registered: ‎06-03-2010
0

Re: OptionEye....Mar 4th

OptionEye, here is some news that might be considered bullish. 

 

Corn and Soybeans under loan. (millions of bushels)  As of Feb 26 each year.

 

Corn:   2013   362 sealed/280 outstanding

             2012    565sealed/436 outstanding

              2011    784sealed/631 outstanding

 

Soybeans:  2013   57sealed/36 outstanding

                      2012   97 sealed/66 outstanding

                       2011  106sealed/68 outstanding

 

I would say maybe 7+ corn and 14+ beans have already seen farmers 'take it to the bank'  Now, usually it is is quite bullish when the farmer doesn't hold anymore.

 

 

So. IA