OptionEye Macro Outlook January 13th
Well it was all about the production cut in the beans. They got the biggest movement. With the bean demand pretty strong all last year the cut was good enough to send beans over 2% higher. Overnight corn is steady to slightly easier, beans giving back about 5 cents and wheat steady easier as well.
The dollar is a little lower this morning at 101.15 down .20.
The 10 year yield coming in at 2.34%.
Stocks made a little bit of a comeback yesterday and look to open higher this morning. The S&P future up 2.50 points and the Dow future up 13 points.
The oil market is lower at $52.50 down .51 cents, right in middle of that $50-$55 level we have been trading in for a while now. Gold is slightly higher at $1197.26 up $1.86.
Today we get PPI , Retail Sales and the University of Michigan Sentiment Survey.