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OptionEye Macro Outlook February 7th

Good morning. 

 

A quiet one overnight with corn steady to a little easier, beans down 1 and wheat down 1 as well. The dollar is stronger and on a quiet day could be a headwind. It currently trades at 100.57 which is up .66.

 

Stocks will opne a little higher this morning with the S&p future up 7 points and the Dow future up 69 points. 

 

The 10 year yield sits at 2.42% after falling yesterday. It still is struggling to break out of the 2.37%-2.50% range. 

 

The  oil market is a little lower at $52.79 down .22 cents. The gold market is lower as well at $1230.83 down $4.58. 

 

Today we get the Trade Balance and Consumer Credit. 

 

The trade will squaring up getting ready for the supply/demand report on Wednesday.