OptionEye.....May 14th

[ShelladyOptions]

Good morning.

David Tepper of Appaloosa Mgmt. on CNBC is probably one of the best money men to watch and listen to in the country/world. Very humble and very smart. Interesting to hear him call this market. He is a good foil to Nuriel Roubini and his doomsday scenarios.

Planting came out on the low side but with the rally yesterday there wasn't a lot of upside left to cover. Corn up 1 to 3. Beans up 4 to 7 and wheat up 1 to 4.

Decent heat wave heading to Chicago today.

The overall market took notice of the move in corn yesterday with the news outlets highlighting the fact that the corn is getting in late. Not sure what the overall yield will be but I think we have a good chance to get some field work in this week.

What are the fields like out by you guys? Are the little rain events really putting us back? The USDA progress numbers are horrible in terms of last year's start.

There are still a lot of put buyers in corn with a view that Dec can't get over $6.00 again. Time will tell.

[Shaggy98]

I'm not what you would call located in the heart of the corn belt, but we will welcome all the rain we can receive. (Central Kansas). I am on the edge of dryland and irrigation country, and will venture to say with this week we will be near the end of corn planting. Some planting was completed as long as a month ago, but the majority was seeded during the last 2 week time frame. People are switching gears to soybeans and milo in this area, but we are still plenty early for both. I would imagine the last 2 weeks of May will be busy for beans and the first couple weeks of June will be busy with milo.

[nitefarm]

YES here any moisture is certanly N OT weccome. Western ky.

[sw363535]

Ok------ we will see if we can slide the drought your way again.  🙂

[c-x-1]

yeah sw,

appears the heat is not shy about returning with 100's in s MN, w IA, NE, nw KA.