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Senior Contributor

OptionEye Global Macro Outlook December the 6th

Good morning. 

 

Overnight sees corn up a penny, beans up 4 and wheat down 1 tp 2 cents. 

 

The dollar is quiet at 93.32 down .05.

 

Watch the $10.10 level in Jan beans. It is trying to break out of a flag pattern there. It may be difficult in a thin holiday market but something to keep an eye on. The $3.50 level in March corn also looks to be holding. 

 

The stock market is pointing to a lower opening with the S&P future down almost 5 points and the Dow future down 58. 

 

The10 year yield sitting at 2.33% which is pretty darn close to the midpoint of the year's range. 

 

The crude oil market is lower this morning at $57.20 down .42 cents and the gold market up at $1268.86 up $2.92. 

 

Today we get MBA Mortgage Applications, ADP, Non Farm Productivity and Unit Labour Costs. 

 

 

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