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Senior Contributor

OptionEye Macro Outlook July 6th

Good morning. 

 

An ugly day yesterday doesn't look to get any better today. Beans overnight are down over 20 cents after a 5% drop yesterday. Corn is down 7 and wheat is down 6. Beans have limit of $1.00. 

 

The global markets are not faring any better. The pound is at a 30 year low after Brexit. Interest rates globally keep marching lower with our 10 year yield at 1.32%. 

 

Stocks are lower as well with the S&P future off over 11 points and the Dow future lower by almost 100. 

 

The oil market is lower to $46.09 down .51 cents and gold is up $15.57 to $1371.86.

 

The dollar is stronger to 96.04 up .04 this morning.

 

Today we get MBA Mortgage Applications, Trade Balance, Markit US Services PMI's, ISM and the FOMC Minutes. 

 

Buckle up again....

 

 

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