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OptionEye Macro Outlook March 7th

Good morning. 

 

Overnight the corn market is a bit lower by about 1 cent, beans lower by 2 and wheat down just over a penny. Pretty quiet as we make our way to report day - and then the acreage report at the end of the month. 

 

The stock market is holding in there while the Trump administration wades through the political landscape in Washington. The S&P future is down 3 points and the Dow future down 20 points. 

 

The 10 year yield sits right at 2.50% this morning and we will see if we can finally break through that number to the upside. 

 

The oil market is a bit higher at $53.39 up .19 cents and gold is a little lower at $1223.00 down $2.29.

 

Today we get the Trade Balance and Consumer Credit numbers - so pretty quiet on the economic figure front which means it will be about wire taps, international trade and whether or not we get a tax cut this year.