2-3-2012
The major grain news today was Informa reducing the size of the South American bean crop
estimate. Combined between Brazil and Argentina they reduced their estimate 7.6 mmt. That
was more than the trade had expected. So with that we finally saw beans leading to the up
side today. In other news the jobs report had more people working then anyone had thought.
The unemployed number is down to 8.3%. That is the lowest in over 3 years. Dow Jones is up
150 on the jobs report. There are now questions about if we are in a recovery, how long can
the Fed keep interest rates this cheap? This is going to be a fun summer in the markets.
Have a good weekend.
Jerry