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Senior Contributor

OptionEye....June 24th

Good morning.

 

Better weather pressures prices. Plain and simple. And, oh yeah, we are having a meltdown in everything else around us. The dollar is going to hurt, getting stronger by the minute.

 

Wheat down 9, Corn down 12, Beans down 5 to 14. Ugly.

 

As the market continues to digest Bernanke, you can tell that they don't really have an idea about what he said as his words on Thursday are still roiling the markets.

 

I think he is in a very difficult spot. He claims he is data dependent but the markets don;t believe him and ultimately the market is bigger than any single entity. What if we have no inflation and a bad jobs market? Is that a reason to continue QE? What if things get worse and we have deflation? There are still so many things to worry about that I think that this week will not be the only week we question authority.

 

10 year is at 2.60%, gold is down $6 to $1289 and equities are still getting hit. Happy Monday.

 

 

 

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