The market finally fell apart yesterday with only a small correction today on “Turnaround” Tuesday.

The fundamental front looks to cap any rally wiht crop progress showing great improvments across the entire country. There is no early concern with corn ratings at 70% G/EX and beans at 66%.

Keep an eye on July corn option for opportunities with this the most heavily traded pit yesterday. Good action seen selling the CN 400p @ 7-7 1/2-cents. This is a ballsy move with 9 trading remaining until expiration.

This entry was posted on Tuesday, June 16th, 2009 at 9:11 am and is filed under Energies. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.