OptionEye - The Cow Guy - Feb 10th
2 down and 1 to go.
We survived the ECB non event.
The market shrugged off a pretty poor payroll report.
Now we get the good ol' USDA.
Corn and wheat down 2 each and beans up 2. The elevator talk is that most are leaning, or hoping for bullish numbers. I am not sure that we will get anything shocking in such an early report. What is for sure is that the corn market has been underpinned by decent sales and beans have been bid as the weather down south has not been cooperating. So far so good.
It will be interesting to see what they give us. As stated earlier on this site, Bunge's latest poll has most farmers (or at least those that took the survey) expecting Dec14 corn to hang out in the $4.50-$4.75 range this spring.
Stocks are a little easier but stage a very impressive performance on Friday, finishing the week higher in the face of pretty poor employment numbers. Gold is up a tad to $1273.42 up $6.15. Oil is down from previous highs by .44 cents to $99.44.
The dollar is still above 80 trading at 80.64.
Drum roll please....