OptionEye Global Macro Outlook March 23rd
Overnight sees corn down 4, beans down 13 and wheat down 6 as traders and investors everywhere try and assess the world with China and Washington embroiled in a trade war.
The dollar is quiet at 89.68 down .16.
The stock market sold off almost 3% yesterday as trade wars fuelled the fans of fear. This morning they point lower again with the S&P future down almost 9 points and the Dow future down 117.
The 10 year yield benefitting from a flight to safety as it trades in to 2.82%.
The crude oil market is up at $64.56 up .26 cents. The gold market is higher on the flight to safety at $1342.35 up $13.34.
Today we get Durable Goods, Capital Goods, New Home Sales and Revisions to Industrial Production and Capacity Utilization.
Have a great weekend.