Remember....I have said it here...Europe is a very big problem but the real problem is the U.S. economy. While we will whittle away the days wondering what will happen at this European summit tomorrow and Friday, lets make sure we have our ducks in a row at home.
We have non-farm payrolls a week from Friday and our corporate earnings are starting to slip. Are we moving towards a more Japanese style economic malaise or is this just a bump in the road. Until those employment numbers start to turn around SIGNIFICANTLY and until the housing market gets of its back, we will be going nowhere fast. The election will also serve to be a drag as nothing of any consequence will really get done in the run up to November.
As for as agricultural business the options trade has been interesting in corn as a lot of the trade has been call selling and put buying from those that are profit taking and exiting their positions. It will be interesting to see what the business looks like going into the report.
Scott
