OptionEye - Macro Outlook - Dec. 17th
Still no end to this volatility in sight.
Corn up 3, beans up 1 and wheat up 8. Wheat headed for a 5th straight gain amid Russian export speculation. The options have been busier than both corn and beans as of late.
Now on to oil. After having stabiized yesterday oil is trading lower again today. Down $1.02 to $54.91. Stocks are not following at the moment with the S & P up 15 points. If there is weakness that sneaks into stocks, the oil will weaken further.
The 10 year yield has recovered to 2.09 but still precariously low for an economy that is supposed to be doing well.
Gold is up after yesterday's losses holding abover $1200 at $1200.55 up $3.63.
The dollar is stronger at 88.26 up .14.
Today we get the FOMC rate decision, CPI and Mortgage Applications.
Hang on tight.
Re: OptionEye - Macro Outlook - Dec. 17th
The "experts" all told us we are awash in wheat. A little hiccup like this shouldn't make a difference .
Move along , move along , nothing to see here.
My guess is they will be feeding wheat to their pigeons, (they taste almost like chicken)