OptionEye - Macro Outlook - Aug 1st
The world is ending and the sky is falling.
That is what the talking heads will be waxing on about all day today. Now they know what it is like to trade corn. Ha!
Anyway, grains quiet overnight, corn unchanged to down 1, soybeans down 8 and wheat finding its feet up 3.
International Grain Council raises corn production numbers slightly. Begs the question, "where have they been"?
Nothing looking good before we get the jobs numbers. Gold up $2.28 to $1284.83. Crude off around 12% for the month of July which is good news for drivers but bad news for those that believe that crude is a bell whether for the economy.
Stocks lower again today as Europe's economy does not look good with some bad PMI numbers out today. The European stock markets are lower by 1% to 2% again today.
Teasury 10 year bonds yield 2.57% today and has been in a range of 2.44% to 2.66%. The dollar continues to strengthen and sits at 81.47 up .01 today.