OptionEye - The Cow Guy - March 13th
Beans down big yesterday and flat this morning. Better than expected production in a dry Brazil caught traders on their heels. Overnight volume was decent but the bounce wasn't. Corn up again after trading with wheat yesterday. Overnight corn up 2 and wheat up 4 on more unrest speculation.
The 10 year is at 2.72% and the dollar is weaker by .26 this morning at 79.34...that will be supportive to gold. Gold is up $1.57 to $1368.41. Oil too is higher by .45 cents to $98.44.
We get some retail sales numbers and jobless claims. The retail sales numbers will be fairly important.
Leans hogs still a very dangerous trade. They are up this morning by .925. Live cattle are slightly higher and feeder cattle are mixed.