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Senior Contributor

OptionEye - Macro Outlook - April 17th

Good morning. 

 

Overnight corn down 1, beans down 1 and wheat unchanged. Hopefully we can get some better action today during the session. On the plus side, it will be sunny and 78 here in Chicago today - one of the 3 days of summer that are actually comfortable - so at least we have that going for us. 

 

Stocks are on the defensive as yet again, yesterday's economic numbers disappointed. Today we are seeing a weaker periphery as Europe continues to wrestle with the Greek Exit or no exit. ( Grexit) . Our S & P future is down more than 13 points this morning in early trade. 

 

The 10 year yield stil in that 1.83% -1.97% range at 1.85% and making a move towards that lower band support. 

 

Oil is lower by .37 cents to $56.34. Gold is up $5.89 to $1204.46. 

 

The dollar this morning is continuing its slide and is weaker again this morning to 97.30 down .10. 

 

Today we get more inflation indicators with CPI and University of Michigan Sentiment Survey. Yesterday's housing numbers missed badly = stunk and Jobless Claims climbed. Where oh where is the growth. 

 

 

 

 

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