OptionEye - The Cow Guy - Dec 13th
Good morning and happy Friday.
Corn is down 2, beans are down 8 and wheat is down 3.
Negative feeling yesterday with Chinese chirpings about cancellations, more ethanol mandate chatter and a lack of volume all contributed to a decent sell off. Soybeans were down the most in four weeks. Corn was down over 10 cents at one point. We just did not have a lot of volume to confirm it all .
10 year yield bleeding out to 2.88%. Stocks taking back some losses today and up 7.00 in the S and P. Crude is off .45 cents to $97.05. Gold is up $6.05 to $1231.57. So far things have been quiet overnight.
Economically speaking we get the Producer Price Index today, another measure of inflation.
The dollar is stronger this morning with the Dollar Index trading at 80.36 which is up .15.