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Mascoutah, Illinois | Crude oil is the wildcard in this whole scenario. With the drilling moratorium in the Gulf of Mexico, triple digit crude will be in the numbers next year. I would believe soybeans would go along for the ride when crude screams higher from $80. Barack and company themselves may kick the crutch out from under Helicopter Ben and Turbo Timmy with this drilling moratorium.
In the near term, I didn't like the price action today in corn. It seems we have all of the ingredients in place to go higher and it frankly wants to make me defensive for the time being. (Contrarian point of view) The USDA Report should keep the market subdued on Wednesday. What happens tomorrow is anyone's guess.
Edited by djmcountryboy 8/9/2010 22:14
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When is the report
