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Senior Contributor

Floor Talk from the B-Team...one more day, 10/22

At the close:

 

Corn and beans trickled lower and wheat finished just in the black today. At $5.60/bushel, corn finished below the a critical price point where it could indicate "the bull market has run out of steam for now," one analyst says. Think that's true?

 

Here's more on today's close. 

 

If you haven't seen already, looks like next Tuesday could be the big "Dead Cat Bounce" day in the soybean market. Here's Roy Smith's take on that.  Anybody think they'll "take the money and run" next week with that being the case?

 

Sounds like it's raining down in wheat country, too. My friends and family down in Kansas (hey, don't hold it against me!) say it is absolutely bone dry, especially out west. This rain will be a nice break, but it sounds like to get that crop going into dormancy in good shape, they need a heck of a lot more than a quick shower or two.

 

Anyway, that's about all from here! Thanks for putting up with the B-Team this week. Marketeye will be back in the saddle next week, so save all of your insults and complaints for him! Ha!

 

Have a great one, everybody. Stay safe out there!

 

Jeff

 

________________________________

 

At mid-day:

 

Sounds like a pretty ho-hum day in Chi-town today. The tone's mixed right now -- corn's slightly lower, beans slightly higher and wheat unchanged. About as middle-of-the-road as it can get! 

 

One noteworthy point here -- sounds like the $5.63 price point in Dec corn is important, one analyst says. Closing under that point could mean the tide's turned away from the bulls. Think that's right? 

 

________________________________

 

Well, after reading JR's post about his morning, that reminds me I better go make sure I've got another pot of coffee brewing for later! I agree with him from yesterday, too -- this stinkin' daylight savings time is no good! At least it's not snowing yet, right? (Speaking of that, I hope these guys are wrong!)

 

Anyway, sounds like we're going to start today's trade on the higher side -- looks like things traded higher overnight and that ought to spill over into today. Boy, after a few days of covering for Marketeye, I'm about worn out from all this up-and-down! Are you all fairly well accustomed to volatility like this? Seems like all it takes is for the wind to blow in a different direction sometimes to move these markets one way or another these days!

 

So, is the harvest dust about starting to settle out there? 

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Veteran Advisor

Re: Floor Talk from the B-Team...one more day, 10/22

morning Jeff,  If I can get fuel in here today I will be done ripping this afternoon.  Sure would like a rain soon though!

As to the volatitlity it's all lead by the dollar  Throw your S&D charts out the window and watch ole goergoe soros and GS .......... Up and Down the dollar goes where it stops only they seem to know!

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Veteran Advisor

Re: Not snowing?

Had to scrape frozen slush off car this morning.

The volatility is 'gut wrenching' at times.

I can feel that I sold too much already and not enough, all in the same day.

And more about snow http://www.cbc.ca/canada/toronto/story/2010/10/22/toronto-snow-barrie.html    

Residents in some areas north of Toronto are waking up to winter scenery and motorists will need to quickly brush up on their cold-weather driving skills.

Wet flurries began falling overnight Friday, with a few centimetres on the ground in the Cookstown area, south of Barrie.

Environment Canada has issued a special weather statement advising of wet flurries east of Lake Huron towards Waterloo and north to Barrie.

The weather office also says a few persistent bands of precipitation over Lake Huron and Georgian Bay will move inland as heavier flurries.

Environment Canada said there is the chance of brief whiteouts in some areas



Read more: http://www.cbc.ca/canada/toronto/story/2010/10/22/toronto-snow-barrie.html#ixzz135lmEwzi

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Contributor

Re: Floor Talk from the B-Team...one more day, 10/22

Being from Indiana need I say more about daylight savings time. I did look up DST on Wipketa and I was stunned by the fastest growing econimies of the world either never were on it or tottally abandon the stuff. Personnaly it cost me alot of money, The elevators holler because of the over time but  you don't run beans at 7:00 in the morning. My question to you JC is their any chance DST  will be altered? Thanks for hearing me on this.

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Senior Contributor

Re: Floor Talk from the B-Team...one more day, 10/22

Interesting points here, llakmf. I don't know a ton about DST, but wasn't it bumped back for general macroeconomic reasons? So folks wouldn't be awake as much when they'd need to be running their furnaces? I guess for crazy ol' dairy farmers like JR fumbling around for ham at 3:30 AM, it doesn't matter! I guess I doubt it will change anytime too soon, since it changed just a few years ago. What do you think?

 

Good points, for sure. Folks don't hear your point of view on it very often...

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Veteran Advisor

Re: Floor Talk from the B-Team...one more day, 10/22

Hey who ya calling crazy?  Smiley Tongue

10 acres left to rip hope to get t done before chores the family wants me to take them to pizza hut for pizza so I better go. JR

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Senior Advisor

Re: Floor Talk from the B-Team...one more day, 10/22

Thanks Jeff. I appreciate what ever you folks offer. You Mike and Jr.  You're all doing a great job on this site.

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Frequent Contributor

Re: Floor Talk from the B-Team...one more day, 10/22

So, how does DST cost you money? Just wondering....

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