Marketing

[ShelladyOptions]

Good morning.

Here we go again. Speculators in Europe have begun to attack Italian bonds and we continue to lurch from one headline to another here in the states with the MF chatter dominating the wires.

The market is under pressure and will trade that way today as we continue to suffer from Thursday's ridiculous rally and the constant drip drip drip of unsettling news our of Europe.

Play defense. Mondays have been quiet as of late.

Scott

[Jeff_a_Caldwell]

Hey, Scott. What's the mood over there today about this MF Global deal? Is this going to take over the EU debt crisis as the next big outside market factor that could open up more downside risk? Do we have another big non-fundamental factor for the grains on our hands now, all of a sudden?

[ShelladyOptions]

Jeff,

The mood down here is a bit erie as all of the brokers and traders associated with MF Global have been blocked from entering the trading floor.  When I walked on the floor this morning many of the pit locals that clear MF were just waiting at the entrance with no clue what was going on.  This has left some of the traders a bit cautious about who they execute trades with.  For the most part things are extremely quiet down here.

As far as this being a far reaching problem, we shall see but I expect that there will be some liquidation coming through the pipeline soon as this situation resolves itself.  I will keep you posted.

Scott

[sw363535]

Reading the details on the eu "solution" this morning,,,,, not sure this is old news.  Whole thing is "depressing".

Starting to wondr if the financials/macros/debt issues are not going to overrun fundamentals for a long time.

What u think---?

[vrbuck]

The mf and eu crisis are fundamentals. Just not some peoples fundentals

[sw363535]

ya your right ------- but they neither create or use the products marketed.

but , like the truck that gets the product between field & user--------------still necessary.

when truck is broke down both sides suffer.

[sw363535]

Thanks VR,

U made me think a little bigger for a few minutes.

Man I am sure glad I'm tradin' grain & meat, I would hate to be in the currencies & financials.

I guess your point might be that a lot of that risk is spillin over to us????

[sw363535]

thought it over --------back to where I was,---financials are not fundamentals to the commodity trade.  Just a convenience.

Wheat will still be traded when the price is laptops and shirts.

Financials are too often and easily manipulated to be considered consistant indicators of much of anything, except the relationship to each other.

Make good news chatter.