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Registered: ‎05-03-2010
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OptionEye Macro Outlook August 8th

Good morning. 

 

Thursday should be an interesting and telling day. Corn, beans and wheat all rallied yesterday on weather, shorts taking profits and technicals. Overnight sees corn continues higher by 1 to 2 cents, beans up another 7 to 8 and wheat up 3 to 4. Clearly the shorts are nervous. 

 

The dollar is a little lower overnight but solidly in its recent range at 93.29 down .13. 

 

The stock market wants to open a little lower with the S&P future down just over 1 point and the Dow futures down 4.

 

The 10 year yield still hovering at 2.25%. 

 

The crude market up at $49.58 up .19 cents while gold is a bit higher at $1260.74 up $2.84. 

 

Today we get NFIB Small Business Optimism and JOLTS Job Openings.