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Senior Contributor

OptionEye Macro Outlook August 8th

Good morning. 


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. 




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