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Senior Contributor

OptionEye...May 16th

Good morning.

 

Hhmm. Supplies at a 17 year low. Wet and cold weather leading to on of the slowest starts in 30 years. I don't know about you but it seems like most of the negative news is out and we will slowly get peppered with bullish news until the weather isn't a factor anymore.

 

This morning everything is slightly better. Corn up 1 to 2, wheat up 2 to 4 and beans up 3 to 5.

 

Lots of economic figures out today with CPI leading the way. Initial jobless and housing starts will also help to clarify things.

 

Out volumes here in Chicago have been horrible. Very little trade causing tempers to flare and there are a lot of short fuses.

 

The dollar continues to rise and gold continues to take it on the chin. Down $18 at $1375. Oil off .53 cents at $93.75. Let's see if we can get more interest in the market today.

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3 Replies
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Veteran Advisor

Re: OptionEye...May 16th

These quiet days scare me.  I feel like the market is going to make a huge move. 

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Advisor

Re: OptionEye...May 16th

And in which direction?
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Veteran Advisor

Re: OptionEye...May 16th

since you asked,

 

soybeans upwards, corn downwards.   

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