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Senior Contributor

OptionEye.....Aug 9th

Good morning.

 

I hope everyone has a great weekend and rests up for the USDA on Monday.

 

So far so quiet. Corn down 1 to 2 cents. Wheat up 2 to 3 cents and beans powering forward up 5 to 9 cents. Frost still making the headlines and I find it odd that it took the market until yesterday to wake up. The cold story was around early Tuesday and had you acted you would have gotten killed. Oh well. I guess it is all about timing.

 

Maybe today we can get the corn market going. Yesterday finally saw some bullish activity in the upside calls as speculators and investors bought the Oct calls. Could be insurance but either way it is the first real upside activity we have seen in a while.

 

Stocks are off again this morning. S & P is down 5.00 and the 10 year is a little softer to 22.58%. There is nothing really out there today that looks to shake things up to hard. Oil is up .49 cents to $103.89 this morning and gold is off $4.17 to $1309.23 trying to hang around the $1300 mark for the month.

 

More taper talk, Fed chairman talk and a decent summer run has some investors taking profits keeping August on its heels.

 

 

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