OptionEye Macro Outlook July 11th
Overnight corn is backing off a bit and is currently down over 2 cents, beans down 7 to 8 cents and wheat lower by 1 to 2 cents as the rallies take a breather.
The dollar is a tad bit stronger at 96.13 up .11.
The 10 year yield trades at 2.38% and is still on the strong side.
Crude getting hit by a Goldman Sachs report suggesting a move towards $40 a barrel and currently trades at $44.11 down .29 cents. Gold hanging on to $1200 trading at $1209.67 down $4.75.
The stock market will open a little lower with the S&P future trading at almost 2 points lower and the Dow future trading 7 points lower.
Today we get NFIB Small Business Optimism, JOLTS Job Openings and Wholesale Inventories.