Optionsellers.com

Good afternoon. This is James Cordier of OptionSellers.com with a market update for July 21st. For those of our clients in Dubai, Australia, New Zealand, France, and in South America who may not be familiar with the movie Trading Places, I apologize in advance. I’ve seen the movie probably 50 times and it always seems to turn out about the same way at the end. The Duke brothers are trying to corner the orange juice market. Supposedly, they have the crop report in advance and they were hoping for it to show that cold temperatures in Florida reduced the crop, which would then move prices higher. Similar things happen every July and August. Many investors in the United States and elsewhere bid up the price of coffee with the idea that cold temperatures in Brazil will reduce the crop there, which then, of course, would propel prices higher. Many years ago, over a decade ago, we did have cold temperatures in Southern Brazil that did cut production that year and prices did jump dramatically. As a matter of fact,