05-14-2013 07:08 AM
David Tepper of Appaloosa Mgmt. on CNBC is probably one of the best money men to watch and listen to in the country/world. Very humble and very smart. Interesting to hear him call this market. He is a good foil to Nuriel Roubini and his doomsday scenarios.
Planting came out on the low side but with the rally yesterday there wasn't a lot of upside left to cover. Corn up 1 to 3. Beans up 4 to 7 and wheat up 1 to 4.
Decent heat wave heading to Chicago today.
The overall market took notice of the move in corn yesterday with the news outlets highlighting the fact that the corn is getting in late. Not sure what the overall yield will be but I think we have a good chance to get some field work in this week.
What are the fields like out by you guys? Are the little rain events really putting us back? The USDA progress numbers are horrible in terms of last year's start.
There are still a lot of put buyers in corn with a view that Dec can't get over $6.00 again. Time will tell.
05-14-2013 07:15 AM