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Senior Contributor

OptionEye.....Aug 7th

Good morning.

 

Wheat down 2. Corn up 1 and beans up 3 to 5 excluding August which is down 4.

 

Market really not reacting to whispers on the floor yesterday that there could be some very cold weather around the corner. Beans off 15 cents and corn off a penny shows that either the market didn't believe it or the market is still too long. We have a record amount of managed money shorts in corn and we can barely rally. It is almost frustrating on how this has been a one way ride.

 

Stocks still grind lower into the depths of August. Things have been quiet as most traders use this month to get some relaxation. The 10 year yield has slowed its gyrations as well and is camping out around 2.63%.

 

Oil is off small at $105.20 which is down .10 cents. Gold still slipping down $5.49 to $1277.68.

 

I think the risk now is deflation. We are having a very difficult time getting any decent growth. Watch this space. 

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