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Senior Contributor

OptionEye - The Cow Guy - Nov 21st

Good morning. 

 

Lots of debate this morning on the Fed meeting minutes released yesterday. I think I can simplify it by saying that the economy is still not doing well, jobs are hard to come by and our houses aren't really worth anymore than they were last year. No real spike recovery. We have beaten ourselves down enough so that 1.5%-2.0% growth is awesome. It's not. Remember we have expanded our balance sheet by $1 trillion this year and we can only grow at a max of 2%? Embarrassing. 

 

Corn up 2, beans up 7 and wheat up 2 as well. 

 

Goldman predicting a loss of at least 15% in gold next year. Hhmm sounds and smells like they are short if you ask me. Gold is up $4.94 to $1249.19 after getting slammed yesterday. Oil is basically unchanged, up .21 cents to $94.06.

 

Talk of a shrinking Black Sea wheat supply has been supportive to wheat. 

 

Economic figures today will focus on Initial Jobless Claims as well as PPI. 

 

Go get 'em.

 

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