OptionEye - The Cow Guy - Jan 24th
Still no joy for the local crowd that has bought all of these March corn 430 and 435 straddles. A 2 cent break really doesn't help. We need sharp moves to make the gamma pay. That is a discussion for a different time.
So far this morning corn down 2, wheat down 3 and soybeans down 13. Ugly morning in the grain room. The moves look mostly technical to me.
The 10 year is trading at 2.73% this morning. Gold caught a bid as an Armageddon trade yesterday which I think is a tad tired. Currently trading at $1269.20 up $5.06. Oil is off .25 cents to $97.07 and saw a decent rally yesterday on supply concerns.
The dollar is unchanged as we begin the last day of the week and a very cold next 7 days.