OptionEye....Mar 4th

[ShelladyOptions]

Good morning.

Well, should get some decent news this week.

Non Farm payrolls on Friday as well as the USDA. I think that this week will be dominated by Europe and whatever perceived affect of the sequester cuts.

Equities are off their lows overnight...seeming a bit sluggish but they have the backing of the Fed. We look to be in a big upward trending channel. I am afraid to buy with both hands but that is exactly what is pushing us higher. The Fed and those that have missed the boat. I am a little leery on how this will end.

Wheat about 5 lower, corn about 2 higher and beans hovering around unchanged.

We are going to get an even tighter view of the economy this week that should help in assessing the trend.

[jec22]

OptionEye, here is some news that might be considered bullish. 

Corn and Soybeans under loan. (millions of bushels)  As of Feb 26 each year.

Corn:   2013   362 sealed/280 outstanding

             2012    565sealed/436 outstanding

              2011    784sealed/631 outstanding

Soybeans:  2013   57sealed/36 outstanding

                      2012   97 sealed/66 outstanding

                       2011  106sealed/68 outstanding

I would say maybe 7+ corn and 14+ beans have already seen farmers 'take it to the bank'  Now, usually it is is quite bullish when the farmer doesn't hold anymore.