OptionEye Macro Outlook - Feb. 17th
Overnight corn steady easier, beans are 2 to 3 lower and wheat is 1 to 2 lower.
Oil had a hard time holding its rally yesterday and finished lower on the day after the news of the production freeze. That doesn't bode well for the market. This morning oil is up .55 to $29.59.
Gold is still strong and is up $5.47 to $1205.91.
The stock market is going to open higher as the S&P future is up 13 points and the Dow future up just over 100 points.
The 10 year yield showing more signs of normalcy as it trades up to 1.79%. Today we get a read on inflation so the 10 year should be one to watch.
The dollar is basically unchanged at 96.85 down .01.
Today's economic indicators are MBA Mortgage Applications, Housing Starts, Building Permits, PPI, Industrial Production and Capacity Utilization. Lots to get our teeth into today.