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Registered: ‎05-03-2010
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OptionEye Macro Outlook July 17th

Good morning. 

 

Overnight and over the weekend grains are easier but still hanging tough. The corn market is lower by 4, beans lower by 5 and wheat lower by 5. 

 

The dollar is a bit higher but still weak after last weeks poor economic performance and trades at 95.23 up .08.

 

The 10 year yield staying put after Friday's rally in bonds and break in yields as it holds at 2.31%.

 

The crude oil market is quiet at $46.54 which is sharply unchanged. The gold market is quiet too at $1229.89 up $1.19 

 

Stocks will open slightly lower this morning with the S&P future down almost 1 point and the Dow future down 2 points. 

 

Today we get Empire Manufacturing and the endless blather out of Washington as to whether or not we get anything done in Congress. Ugh.