OptionEye Macro Outlook January 12th
Today we get S&D and I am not expecting much.
Overnight corn is 1 lower, beans are 2 lower and wheat is 2 t o3 lower.
The dollar is getting hurt this morning and normally would be supportive to commodities. This morning the dollar is at 101.03 down .75. We will have to wait until after the report until the dollar can really start to take effect.
Stocks are lower this morning with the S&P future lower by 6.50 points and the Dow future lower by 42.
The oil market is a tad higher at $52.83 up .58 cents and gold is higher at $1204.37 up $12.74.
The 10 year yield is lower at 2.33%.
Today we get the grain S&D, the Import Price Incex, Initial Jobless Claims, Continuing Claims, the Bloomberg Consmer Comfort Index and the Monthly Budget Statement.