A commodities trader in my ofice said to his clients on 11/5/08

[apnu]

This was released on 11/5/2008 at the end of market recap sent to all of his clients.

Here is what this hedger had to say (I am purposely protecting his anonymity, don't ask who he is)

The election is over and congratulations to winner, President -Elect Barack Obama. Now that the election is over and we know who has won let's look at the implications for the market. With crude oil and equities and grains falling hard today it would be easy to say the markets were rejecting Sen. Obama's agenda. However, I am not quite so sure that's the case. The economy is the driving force behind crude oil, which has been the driving force behind the beans and corn. Equity traders were concerned today about the jobless claims report due out in the morning. Most analysts are looking for a big jump in claims (more unemployment). You can't blame that on the election. What is crucial for the grains is if the economy slumps or if Sen. Obama was to talk about curtailing ethanol subsidies. As I have said for weeks if Sen. Obama was elected the traders in New York would be skeptical of Sen. Obama and the stock could face more selling like we saw today. If that's the case the grai ns could seek lower prices in the short run. In the long run, as long as the country or the new President mandates ethanol, the grains will recover. Yes there will be changes ahead, but for those of you who are concerned about the days ahead, I am always comforted by the old saying that says, "if you want to live like a republican, vote for a democrat." May the Lord give our new President the wisdom and strength to move our nation forward in security and prosperity.

Interesting.

[eshfemme]

1. Yeah... Watch the freepers' heads explode at the quote "If you want to live like a Republican...

vote for a Democrat."