OptionEye Macro Outlook April 18th
Happy Tax Day. Ugh.
Overnight sees corn steady to a bit better, beans see decent gains and are currently 6 higher and wheat is not too far behind up 5.
The dollar is ever so slightly lower at 94.60 down .08.
The 10 year yield still telling us that there is a fair amount of nervousness out there in spite of the stock market rally. This morning the 10 year yield trades at 1.74%.
Stocks will open lower this moring with the S&P future down more than 6 points and the Dow future down 43.
The oil market is in the headlines today as a Doha deal fails. WTI Crude is lower by $1.42 to $38.94. Gold is the beneficiary of the turmoil this morning and is up $3.77 at $1237.92.
Today we don't get a lot of economic news so the Doha failure will be in the headlines.