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Senior Contributor

OptionEye Macro Outlook February 1st.

Good morning. 

 

Well, that went fast. 

 

Overnight, corn a little lower by 1 to 2 cents, beans down 5 cents and wheat down 3 cents. The dollar sold off hard yesterday as the Trump administration said that the Euro was artificially high. The dollar broke through that 100 level and trades at 99.54 up .03. The concern is that our dollar demoninated contracts can't get any traction, even with the dollar tanking. Not good. 

 

Stocks will open higher this morning wth the S&P future up almost 5 points and the Dow future up almost 40 points. 

 

The 10 year yield hanging out at 2.47% as the Fed begins its FOMC meeting. 

 

The crude oil market still finding it hard to get its footing. Reports on both sides of the fence suggest that the OPEC cuts are working but US shale oil proction is as well. They cancel each other out. The dollar has tanked and again, my worry is seeing oil not really get a bump from the dollar swoon. 

 

Gold is quiet after its safe haven play yesterday. This morning it trades at $1211.25 up .60 cents. 

 

Today we get MBA Mortgage Applications, ADP Employment Change, Markit US Manufacturing PMI, ISM Manufacturing and Construction Spending as well as the FOMC rate announcement. 

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Honored Advisor

Re: OptionEye Macro Outlook February 1st.

Liquid natural gas terminal about 10mi south of Lake Charles,  La. 

 

Thousands of people working on the expansion to ship out our natural gas.

 

I Took this picture last week

 

 

This is not the only export facility expanding capacity,  Saw one in Port Arther, TX with cranes in the air too.

 

Energy is as cheap as it is gonna get.

 

This facility will be about a mile long when done.

 

This is to load ocean going ships.20170125_122956-1.jpg

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Honored Advisor

Re: OptionEye Macro Outlook February 1st.

 

 

 

    U.S. Exports of Fuel Ethanol (Thousand Barrels)
     

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  2010 324 519 1,153 973 414 387 603 707 929 834 930 1,717
  2011 1,364 1,425 2,003 2,865 1,743 1,604 3,036 1,246 2,525 2,895 3,634 4,117
  2012 1,819 1,785 1,992 1,775 1,397 1,410 1,519 1,206 1,191 1,284 965 1,313
  2013 1,518 1,017 1,312 967 952 796 830 1,182 1,299 1,206 2,134 1,525
 
  2015 1,640 1,662 2,057 1,761 1,497 1,499 1,716 1,272 1,492 1,792 1,427 1,995
  2016 2,076 1,598 2,270 2,276 1,328 1,108 1,652 1,856 2,373 3,135 2,904
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