OptionEye - The Cow Guy - Jan 3rd
Let's get this party started!
A surprising amount of business done in Ag options yesterday as investors wasted no time deploying beginning of the year capital.
Overnight volumes in futures was decent. 14k in beans, 4k in both wheat and corn. Wheat is steady easier after having broken through the $6.00 level. Corn is steady better overnight and beans are up 1 cent.
No real significant news here today except for the weather. I can here my father now say that we have a word in the English language for the harsh weather we have gotten recently.....'WINTER'.
Anyway, the macros look a little healthier today. Stocks took it on the chin yesterday but are slightly higher this morning. Crude oil was hit as well and is up 3 cents to $95.47. Gold was the big winner yesterday and is higher today trading at $1230.33 up $5.93.
Still, the pits are thin and the trading desks are thinner. Let's see how we get on.