OptionEye...Sept. 9th

[ShelladyOptions]

A few things to reflect on today.

Firstly, we will have some moments of silence here in Chicago for the attacks on our soil Sept. 11, 2001.

Secondly, the markets are digesting the President's speech last night. I have been on a few programs this morning and the overarching feeling is that the package is not going to make a big impact anytime soon. Estimates are ranging from a rise in GDP next year of 1% to 2% and a 1% reduction in unemployment.

I think we will need more than that.

On to the grains. With the report looming prices have begun to stagnate/consolidate.

The debate we are having in the office this morning is what is it going to take from the government on Monday to get Dec corn to trade over $8.00? The general consensus is that a 148 bpa wont do it. We say it's 146. What are the thoughts of you guys on the ground?

Scott 

[short time]

everyone is guessing the yealds but when does the actual acreage come out. are ew still working on the first goverment numbers what about that that was flooded.

[ShelladyOptions]

Aug 11th the government reported beans at 75 planted, 73 harvested with a yield of 41.4....corn was 92.3 planted, 84.4 harvested with a 153 yield....

The guesses for Monday are all over the map.

[p-oed Farmer]

Scott...... I think that it's the end user that will answer that question...... At what point will he stop buying?....... There will be plenty of corn for sale from farmers at 7.50 to 8.00....... At the end of the day the final high will be determined by the end user....FWIW......p-oed  

[animalfeeder]

p-oed that has alredy happened. End users have already stoped buying at 7.50. There is a incredible amount of wheat being fed so we don't have to use that high dollar corn.