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Senior Contributor

OptionEye.....March 13th

Market is set to open higher this morning.  Bean call, up 11 on the open, wheat up 4.5, and corn up 3. 

 

Yesterday's action was rather bullish in the wheat and in the corn.  Lots of bullish talk here on the floor of the CBOT, with many traders talking about the lack of supply and sugar coated numbers announced by the USDA.  Once again it all comes down to how much you hold those numbers to be the truth.  Sentiment from a fundamental standpoint is starting to build a real case in my opinion for a shortage of product out there.  We have had a very mild, dry winter here and the same thing in planting regions in South America.  The weather factor seems to continue to gain strength and by the looks of it the market is starting to respond. 

 

Cheers,

 

Scott

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