OptionEye - Macro Outlook - Aug 29th
Firstly, I hope everyone has a wonderful holiday weekend.
Secondly, the grain market today will be thin and could be volatile because of the lack of volume.
Corn is a little easier, beans are up 3 and wheat is up 4.
Black Sea tensions have wheat higher and I think beans are in the middle of some white noise and these moves in the big picture are just to shake out the weak hands.
Stocks are higher this morning. European stocks are mixed.
Gold is down by $3.78 to $1285.90 and oil is up .51 cents to $95.06.
The 10 year conundrum still confuses the experts as the bond market keeps rallying in the face of some better than expected economic news driving bond yields lower. Today the 10 year sits at 2.34%.
The dollar is basically unchanged at 82.48 up .01.
Have a great holiday.