USDA Bullish for Corn and Beans

  • Posted on: August 11, 2011

The call sides of the straddles will be worth a chunck today.

Corn yield estimated dropped almost 7 bushels an acre.

Yield for corn 153 vs. 158 pencils out to a 12.9 crop

Yield for beans 41.4 down from 43.4

Corn and beans should be 30 to 60 higher for the first five minutes of trade

Once caveat: This could be a chance for Funds who have gotten crushed in other positions, to take massive profits in grains.

This could set up a higher opening, lower close scenario.

Watch for that action.

I’d be exiting the straddles within the first 12 minutes of trade.

CER