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Senior Contributor

OptionEye - Macro Outlook - Aug 19th

Good morning. 


Corn down 3, beans down 5 and wheat down 4.


Rain in the forecast puts a cloud over commodity prices. Improving weather patterns has the sellers out today.


Stocks are higher again this morning after yesterday's scramble. The best way to describe a market like that is the reason it is going up is that there is no good reason for it NOT to up. Pretty pathetic but that is the fact. 


Gold is up $3.50 to $1301.93 and oil is higher as well to $96.82 up .41 cents. 


The dollar is stronger to 81.68 up .11 while the 10 year yield is parked solidly at 2.37%.


It is that time of year with big(ish) moves on little volume as most use these waning weeks for holiday. 



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