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Senior Contributor

OptionEye...Sept. 4th

Finally, the dog days of August are behind us.


Now I am not saying that today will suddenly be busy but with the Sept 12th report ahead of us and traders back at their desks, the chances are better than they were on August 1st.


Non Farm payrolls this Friday will help give us a peek into the recovery. Democrats will be speaking all week in Charlotte. We will have to wait until next Wednesday to see what the government sees. Will they lower the crop even more? Are the highs in? I think we will make a run at the old high of $8.49 but we need help from the beans.


Europe still falling apart and stocks that were up all night have now traded back to unchanged and maybe even lower. Oil still catching a bid...

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Senior Contributor

Re: OptionEye...Sept. 4th

By Whitney McFerron
     Sept. 4 (Bloomberg) -- Corn prices may head “slightly
lower” in the next month as demand slows following a rally to a
record last month, while soybeans may extend gains, INTL
FCStone said today.
     Corn may drop as low as $7.50 a bushel, and rallies may be
capped at $8.35, the company said today in an e-mailed
statement. Prices reached a record $8.49 on Aug. 10 on the
Chicago Board of Trade following the worst U.S. drought in
more than 50 years. Soybeans, which climbed to a record $17.89 a
bushel today, may rise to $18.50 as “demand still seems to be
relatively intact,” according to the report.

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