Well, with a tight range and not a lot of volume I am happy to see the back end of February.
On to March with spring planting and acreage report.
Corn, wheat and beans going easier this morning as the market takes a breather.
Had some interesting chats with fund managers this morning on the so called 'weird' weather we are having and the lack of snow cover out west. While this is in no way scientific they are looking at starting to get into the agriculture space as new net longs. With the tightness we have now any kind of weather scare will give them a bump higher. The funds are looking for a 5-6 month trade that they will hold and not day trade.
They may express their longs in the ETF market or go to the options pits. It will be interesting to see what pans out.
Re: OptionEye...March 1st
When the USDA gives us a Bearish report in the next 5 to 6 weeks due to a mammoth calculating error then lets see how quickly those funds go back to trading daily. USDA reports have provided reversals of many strategies. 🙂