OptionEye - Macro Outlook - Aug 7th
Good morning all.
Yesterday's rally being trimmed a bit this morning.
Corn down 3, beans up 2 and wheat down 5.
Global food prices fell to a six month low last month. A basket of 55 food items dropped 2.1% to 203.9 vs 208.3 in June. Grains have been able to balance out the sharp rise in meats.
Stocks higher on rumours of a Russian de-escalation.
The 10 year yield is 2.45% and heading to 2.15%.
Oil is up .52 cents to $97.22 and Gold is up .81 cents to $1306.37.
Today we get Initial Jobless Claims and Continuing Claims as this week is pretty thin on the ground for economic news.
The dollar continues to strengthen and sits at 81.57 up .13.