OptionEye - Macro Outlook - Aug 13th
No real surprises yesterday.
Corn up 1, soybeans up 3 and wheat up 4.
Bit of a bounce back for beans and wheat after yesterday's sell off. It was the weak longs that bailed before the numbers yesterday and after the number the shorts seemed to squeeze themselves out as they were then the ones that didn't get enought meat on the bone.
The 10 year yield is at 2.45% inching higher.
Stocks are up for some reason which appears to be white noise. Retail sales missed across the board yet stocks seem unfazed.
Oil is down .11 cents to $97.26 and oil is higher to $1311.20 up $1.75.
No real change in headlines but they will dominate again today. One thing that is clear is that the 3rd quarter is off to a slow start.