OptionEye - Macro Outlook - July 31st
Corn down 1, beans up 1 and wheat down 2.
And now for the bad news...corn is poised for its biggest monthly decline in 3 years - a 13% slump.
Argentina's default clock runs out and they look to be in default for the second time in 12 years. This will shake things up a bit. Stocks here are taking it on the chin, with the S & P down 10 handles already this morning. The 10 year yield is back above 2.50% and sits comfortably at 2.56% after yesterday's very strong GDP number.
Oil below $100 at $99.51 down .76 cents.
Gold is lower too by $1.43 to $1294.89.
The dollar is stronger again to 81.49 up .06.
We get initial jobless claims today and the big one tomorrow.