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Senior Contributor

OptionEye......June 17

Good morning.

 

A beautiful morning in Chicago.

 

Corn down 3 to 4, beans down 6 to 12 and wheat down 2 to 4.

 

The radio weathermen in Chicago are touting the slight chance that we are dry all week here and apparently that is the story on why corn and beans are down this morning. We haven't had any real bullish news in a while and when that happens you see a slow grind lower like we have now with volatility drifting lower as well.

 

Institutional traders targeting the Dec corn $5.00 straddle selling it hard with the thought that we are going to drift down there over time. At the moment those traders have the upper hand.

 

EU corn yield was raised as well.

 

Gold is off $5.00 to $1385. Stocks are up and we get some FED rhetoric this week which will have the market buzzing. I still say inflation is low, unemployment is high and the taper talk is way to premature.

 

The 10 year yield is 2.11% and the dollar is just a tad stronger this morning which wont help commodities.

 

Scott

 

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Senior Advisor

Re: OptionEye......June 17

Quote from Shellady ;

 

Good morning.

 

A beautiful morning in Chicago.

 

Corn down 3 to 4, beans down 6 to 12 and wheat down 2 to 4

 

 

Dam -- i would hate to see a Great day in the windy !

 

 

Would that be corn down 20 - beans down 40 and wheat down 30 ? Smiley Surprised

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Honored Advisor

Re: OptionEye......June 17

Again.......the "no rain makes grain" thing........It's really hard to figure out.  The next rain event, the headlines will be that "rain makes grain".     I guess there really isn't any weather any more that will make bullish news.

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Honored Advisor

Re: OptionEye......June 17

Spring weather for the buyers----- "if it's all you got work it twice as hard"----- Sunshine makes grain, rain makes grain, humidity makes grain, wind makes energy to make grain, --------------------  round them up and drive em over the cliff.

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