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Senior Contributor

OptionEye - Macro Outlook - July 31st

Good morning. 

 

Overnight, corn up 1, beans down 3 and wheat up 3. 

 

The International Grains Council raised its estimate for Chinese corn production yesterday to an all time high. Just something to be aware of...

 

The dollar is just a little weaker at 97.35 down .20. 

 

Stocks are a little lower this morning with the S & P pointing to a lower opening of about 5 points. 

 

The 10 year yield is at 2.21% showing us that the bond traders are still not sure about economic strength. 

 

Oil is lower again ( I filled up for $2.45 this morning) and trades at $47.78 down .74 cents. Gold is lower too to $1087.32 down $1.25. 

 

Employment cost index comes out weaker showing still no real signs of inflation...

 

Have a great weekend. 

 

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2 Replies
Senior Contributor

Re: OptionEye - Macro Outlook - July 31st

Just another Friday ahe Scott?
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Veteran Advisor

Re: OptionEye - Macro Outlook - July 31st

i'm kind of confused (the neighbors agree), if china's corn production is going to be higher, why the nice corn purchase

the other day ?

 

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