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Senior Contributor

OptionEye....July 8th

Good morning and welcome back.

 

I feel as though we have a tug of war with where we all think this Dec corn is going. We are up 2 to 3 cents this morning but still 5 cents under $5.00 and with no new bullish news today the market feels heavy.

 

I have read with interest the other posts on this site and really wonder where this crop will be. Clearly there are still some bad areas and with the bulk getting in late I think we could have some surprises but maybe not for a few months. I can say for sure that this investment community here in Chicago is pretty sure we are going to grind lower in Dec to $4.50. I guess time will tell.

 

As for the rest of the world, stocks are up and the 10 year is making a run to 2.75% trading at 2.71%.

 

The dollar is still strong and that will also add to the heaviness in commodities. Gold is basically just lying there at $1233 up $10.00.

 

Oil still spiking on geopolitical concerns...

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