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Senior Contributor

OptionEye Macro Outlook January 4th

Good morning.


Overnight corn unchanged, beans steady better and wheat 1 to 2 lower.


The 10 year saw a decent move lower in yield yesterday and sits at 2.46%. 


Oil too was a big mover after seeing new highs hit the skids after news of more Libyan oil and more US production. This morning it stands at $52.71 up .38 cents.


Stocks are going to open higher again this morning with the S&P future up over 4 points and the Dow future up 32. 


The dollar is slightly weaker at 103.01 down .20. 


Gold is getting a small boost at $1165.40 up $6.61.


Today we get MBA Mortgage Applications, FOMC Minutes and Wards Total Vehicle Sales. 






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