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Senior Contributor

OptionEye.....May 3rd

Good morning.


Corn and wheat the leaders this week and are on pace for their biggest weekly gains since last July. Wheat output in Kansas will be significantly lower this year and fall by around 18%.


Welcome to our first weather market of the year.


All three are up today with beans leading the way up 5 to 9 cents, corn up 1 to 2 cents and wheat up 3 to 5 cents.


Talk of the town today will center around agricultural weather patterns and the non-farm payroll numbers due out at 7:30 CST. Gold is closing in on %1500 at $1481. Big rally in oil yesterday and is trading at 94.45 up .46 cents. Our 10 year yield inching lower telling us we still have a lot to worry about trading at around 1.63%.


It will be interesting to see how the capital will flow after this mornings job numbers. While I am hoping that things will improve the economic indicators as of late have been telling a different story.


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