08-08-2016 06:22 AM
OptionEye Macro Outlook August 8th
Overnight grains are a bit higher with corn up 1, beans up 9 and wheat up 5. Funds are still long 100k contracts of beans - this will be key. The funds are short corn (100k) and wheat (140k).
The stock market will open higher this morning with the S&P up almost 4 points and the Dow future up just over 30 ppoints.
The 10 year yield leaking out to 1.58% with last weeks jobs numbers.
The oil makret is up again, trading at $42.44 up .64 cents. Gold has settled down a bit and trades at $1332.33 down $3.22.
The dollar is a tad stronger at 96.35 which is up .15 this morning.
No real economic info this morning - just more digestion of that 255k print last week.