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Senior Contributor

OptionEye....April 12th

Good morning.

 

Grain.gov reporting corn planting problems in China's corn biggest corn producing region. Reports in the US that yields may decline due to the drought last year are doing the rounds this morning. The continuing of perceived tightness in corn still driving spreads.

 

Gold slipping towards $1550. Oil off about $1.06 and the 10 year hovering at 1.75%. We are awaiting earnings reports from JP Morgan and Wells Fargo this morning to see what the equities are going to do. As of late, they have been ruling the roost.

 

We also get some good consumer numbers today with Retail Sales and Producer Price Index reading. That will also give us a clue as to what the quarter will hold.

 

Good luck and have a great weekend.

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3 Replies
Senior Advisor

Re: OptionEye....April 12th

Any concern at all on the floor about the wheat outlook of this latest freeze.

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Advisor

Re: OptionEye....April 12th

What do you think Shaggy, is your wheat damaged that was looking so good in the pics?

Or is it still too early to tell? Are your oats up yet?  Nice rain here but not near as cold.

Wind

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Senior Advisor

Re: OptionEye....April 12th

Yesterday morning, most wheat in the area was lying flat on the ground.  I'm being told it's to early to tell, but there has to be significant damage.  Oats are up, but only about 1/4" out of ground.  Need to wait and see how bad the radishes and peas were stunted.  Suppose to warm up over weekend but not much rain forecasted.

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