05-03-2010 12:15 PM
Oil spill and exports
Wow! It is very very quiet, here on the floor. I mean I have never heard it so quiet. Volume is light. One trader says as far as the oil spill situation in the Gulf, he has talked to his Gulf contacts. He says the shippers are able to get their vessels in and out, it's a mess, but they are making do. The captain's of the vessels are angry because the bottoms of their crafts are getting gummed up. But, once they get going again, the water movement from the motors helps to clean them off. Back to the markets, the trader says if the oil spill situation gets worse, you could see July corn narrow on Dec corn futures. So far, that is not happening.