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Senior Contributor

OptionEye....June 14th

Good morning.

 

Very interesting movement in the corn spreads yesterday. Was pretty much the talk of the floor. A few guys got their faces ripped off in that move. Word was that China may be back in and of a big shortage in the pipeline. Either way it was a big move.

 

On the bigger front we are all concerned about the Greek election this weekend. I personally don't think it will change much. Whichever group wins won't be able to get much done anyway and we will still be waxing on about what is going to happen in Europe. More of the same.

 

Prices at 7:50 CST are July corn up 7 cents, July beans are off 5 cents and July wheat is up 7 cents as well.

 

Scott

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3 Replies
Veteran Contributor

Re: OptionEye....June 14th

Scott,

 

Is there ever going to be any way to fix the problem in Europe?  Is it just going to be the new normal and hopefully nothing ridiculous comes out of it?  Can we just sent a sheriff to Greece and have them evicted so we don't have to talk about them anymore? Appreciate your daily thoughts,

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Honored Advisor

Re: OptionEye....June 14th

I`m not Scott, but I`ll throw this in from Max Keiser http://www.youtube.com/watch?v=DZb3AZvTZe8   At about 7 minutes though about 12 minutes Max talks about Greece solving their problems by going to a Drachma backed by silver.  IMO he`s got a point, there`s only a finite amount of gold or silver and to have that back your money, alot of this "printing your worries away" would be over.

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Senior Contributor

Re: OptionEye....June 14th

No. The fundamental flaws will not allow for Greek success. They need to exit the Euro and should never have been let in at all. The rest of Europe needs an FDIC policy for starters. That will help to stop the run on the banks. They have a central bank but need a central government. Can you imagine how the Greeks and Spaniards feel when bankers from other countries come to town and tell them how to run their countries for financial bailouts? Amazing.

 

They don't have a mobile workforce and their economies are way too disparate.

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