09-23-2013 06:30 AM
It's officially Autumn and it feels that way too. My favorite time of year.
Overnight soybeans have come back from 10 lower to 1 higher. Reports on Friday and over the weekend had some yields coming in better than expected and favorable weather but that $13.00 mark seems to have given the shorts a little run for their money. The low in Nov overnight was $13.0775. Soybeans were almost 5% lower last week.
Corn is lower by 2 cents and wheat is up 1. Generally a mixed bag as we get back to our trading desks this morning.
Stocks are basically unchanged as the world digests the German election results. Merkel the winner as expected has the European equities lower but not by much.
Our 10 year yield is at 2.74% to begin the week. Economic news and figures to look out for this week are home prices, GDP and Initial Jobless Claims.
Gold is lower at $1323.93 down $2.12 and oil is slightly higher at $104.87 up .12 cents.
09-23-2013 09:03 AM
Why go DEEP water drilling, maybe hit one in three. When you can get drilling tax credits from US tax payers, hit 98%. Move rig a few miles and do it again in the Bahkin. And Warren Buffet will haul the oil away for a small fee. You don't need to build a road. You can just beat to pieces anything left in western N. Dak. Plus you get a fracking tax credit per barrel, and you don't have to learn to speak Portuguese.