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ShelladyOptions
Senior Contributor

OptionEye Feb 29th

Still hearing scary anecdotal evidence about how tight things are out there. Yesterday, on the open in corn options, speculators bought 3,000 July 9.00 calls. They paid 2.5 cents for them and have bought about 4,000 in total over the last week.

 

ADM has covered their short calls in April on every break lower and gone outright long of the April 7.00 calls as we continue this underlying bullish feeling in the corn. Resistance is at 662 and 667.

 

Is the pipeline as tight as we are hearing in Chicago?

 

Scott 

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3 Replies
roarintiger1
Honored Advisor

Re: OptionEye Feb 29th

Are you referring to the bin augers rattling?   When my augers rattle, that means that the bins are empty.  

 

When my head rattles..........well, that's a different story.

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p-oed Farmer
Senior Contributor

Re: OptionEye Feb 29th

Tighter Scott......Smiley Happy........ OK.....I know I am a farmer with a bias........... p-oed

 

The Farmers that I know have  sold a big portion of there stuff........ Not 100% but a long ways from full.......

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Jim Meade / Iowa City
Senior Advisor

Re: OptionEye Feb 29th

My local buyer thinks there is a lot of grain in local famer's hands.  I have a few loads to deliveer, but otherwise have no old crop sold.  Mine is about half gone.  I can't speak for anyone else.  Local truckers are not real busy.

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