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Senior Contributor

OptionEye - Macro Outlook - July 28th

Good morning. 

 

USDA had corn improving ever so slightly and beans unchanged. Corn overnight is unchanged to slightly lower, beans are up 11 and wheat is up 5. 

 

The dollar is stronger this morning and trades at 96.89 up .39. 

 

The Shanghai Index was down again last night but the US stocks have held in. The S & P futures are pointing to an opening of better than 10 points. 

 

The 10 year yield holding at 2.25%. 

 

Oil continues its slide and trades at $47.12 down .27 cents. Gold is a tad easier to $1093.13 down .88 cents. Durable goods and capital goods numbers yesterday stunk. We just aren't growing like we should. 

 

Today we get another look at the housing market. The CaseShiller numbers come out at 8:00 CST. We also get the Markit US Services PMI.

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