kggonzo - 5/25/2015 15:48

I understand that technically the charts may not be good, but looking at the 5 and 7 day quantitative rainfall, the fundamentals may take you out behind the shed and spank you.

My understanding is that Ark, and MO, along with a host of other states have over 10 million acres of beans to plant. I'd say come June 1st, there will probably be 10 million to plant as well. If the wet weather continues, it's very possible that 2 million extra acres of beans the USDA was planning on will never happen. This crop is so far away from being in the bin, it's not even funny. I'm not usually a supporter of spending too much on options, but this may be the year. IMHO, $10-$12 beans are still in the cards. Not predicting that will happen, just stating that there is a chance. 2 million less acres, and back to the 10 year average yield of 41 and we'll be seeing $14.00 beans. I'm thinking some Nov $11.00 calls for about $.06 may be a good spec investment. $12.00 are $.02625 and $10.00 strikes are $.17