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Senior Contributor

OptionEye......Oct 17th

Good morning.

 

Well, I guess this is good news.

 

Another exercise in kicking the can down the road. We have lurched from 'very embarrassing to kind of embarrassing'. We apparently have risen above, not very far but we have risen above.

 

The debt and budget deal is passed. Congress and the government will now reopen even though only 17% of government was really shut down. I hope there are some serious messages sent come election time for these congressmen.

 

Corn is up 2, beans are 2 and wheat is up 4. Stories doing the rounds this morning about China being a buyer when the government was shut down keeping that information off the street. Wheat has rebounded well after yesterday's sell off on KC wheat technically failing at the 200 day moving average on Monday.

 

The stock market liked the news that Congress came to agreement and is a little lower overnight as the market digests the news. The gains have been very good up until this point.

 

The 10 year yield has collapsed to 2.62% telling us that things haven't really changed as far as who is running the country and where our economy is going. I say it goes a lot lower over the next 12 months.

 

Oil is off .60 cents to $101.69 and gold is up $34.90 to $1317.38.

 

Today will be interesting as we start to see some of the government info that we have been missing to make our trading decisions.

 

Good luck.

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