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Senior Contributor
Posts: 1,623
Registered: ‎05-03-2010
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OptionEye April 9th

Good morning.

 

Bullish bets coming off in corn but still rising in soybeans.

 

Corn bets coming off with gold bets as fears of no QE3 keep creeping in. However, with the jobs number we got last Friday, QE3 could be back on the table. South American crops still causing soybeans to trade tight here in Chicago.

 

Equities taking it on the chin as the jobs number disappoints. 10 year yields making a run at the 2% level again. Clearly we are not out of the woods yet.

 

Government entities account for a $4 trillion bill while tax revenues cover less than half. Student loans top $1billion with 25% being classified as delinquent or a total write off. Europe still getting worse. The light at the end of the tunnel might be a train.

 

Scott

Advisor
Posts: 3,977
Registered: ‎05-03-2010
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Re: OptionEye April 9th

[ Edited ]

OptionEye,

 

What's the skinny on tomorrow's WASDE Report? Is it built-in already? Will the market trade these bullish numbers long or will we go right back to focusing on this rapid planting pace? What are your floor buddies saying to you?

 

Thanks,

 

Mike

Senior Contributor
Posts: 1,623
Registered: ‎05-03-2010
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Re: OptionEye April 9th

There are no real expectations for tomorrow's WASDE. Still trading SA weather and trying not to get our fingers burnt with the fund manager money movement.

 

Significant risk to options traders if we rally quickly to the $7.00 level in corn and beans. Locals short a lot of upside calls.

 

Scott

Honored Advisor
Posts: 5,329
Registered: ‎01-10-2012
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Re: OptionEye April 9th

[ Edited ]

 

 

Anybody watching the cold weather predictions?  The yellow on this map is for Freeze tonight