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Senior Contributor

OptionEye - The Cow Guy - Dec 23rd

Good morning. 

 

Small gains in beans overnight on dry Argentina stress stories. Beans are up 4+ with over 12k traded. Corn  is steady better and wheat is down 1 on very thin volumes. 

 

Oil is off about .38 cents to $98.94 and gold is easier as well sitting at $1195.10 down $8.20.

 

Things look to be very quiet. Stocks are up and holding on to last weeks gains. The 10 year is at 2.896% and working its way to 3.00%

 

The dollar is a little weaker this morning trading at 80.46. 

 

Let's see if we can get a little mojo going this morning before things really start to slow down tomorrow. 

 

 

 

 

 

 

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Honored Advisor

Re: OptionEye - The Cow Guy - Dec 23rd

Do you watch anything to do with Natural Gas, Scott? http://finviz.com/futures_charts.ashx?t=NG  I don`t understand this drawing lines on charts stuff, but it sure looks like it has broken through some lines that a person would draw.  If that trend continues Nitrogen will be higher, not lower going into spring.

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Honored Advisor

Re: OptionEye - The Cow Guy - Dec 23rd

BA you might be right, but it shouldn't.  Nitrogen has not followed natural gas prices since the last time we were in $3 corn.

 

It has been following corn prices for some time and has not moved downward with the ng price since gas was high in 2011--- over $5 mcf  ---- now it is $4.50 or close to it.  But when it was at 3.50 it was not down much at all.

 

nitrogen is not a very competitive business.

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Honored Advisor

Re: OptionEye - The Cow Guy - Dec 23rd

They just want their fair share
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