OptionEye - The Cow Guy - March 11th
I actually thought we might see a little bounce in the grains overnight considering the exit from the market we witnessed yesterday. Nope. The weak longs bailed after the report yesterday. Not particularly bearish , just not bullish enough for those who were late to the market. This morning, we are a little lower in corn, down 1 with beans down 4. Wheat is a half better but quiet.
The story again was that the front two months in Lean Hogs were limit up again yesterday. That market is trading very scary and without a lot of logic. Be careful.
The 10 year is hanging on to that 2.80% level at 2.79% and stocks are slightly easier. Gold is up again as the bugs take control and is trading at $1348.77 which is up $9.05. Oil is down ever so slightly at $101.09 down about .03 cents.
The dollar is a little stronger at 79.88 up .11.
Not a lot on the menu today as far as economic numbers. European stocks were mainly lower but not by much and Asia made a slight comeback after yesterday's debacle.