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Senior Contributor

OptionEye - Macro Outlook - June 17th

Good morning. 

 

Overnight corn up 4, beans up 11 and wheat up 9. Looks like we have the funds on the run this morning. 

 

The 10 year yield is stil sitting at 2.32% as we await the Fed today. Things should be quiet. Stocks are a little higher with the S & P pointing to an opening of about 3 points higher. 

 

Oil is over $1.00 higher this morning and stands at $61.07 up $1.10. Worries of shrinking inventories has the shorts on the run. 

 

Gold is lower by about $273 to $1179.42. 

 

The dollar is relatively unchanged and sits at 94.87 down .12. 

 

Today we get MBS Mortgage Applications but everyone will be really waiting to see if the Fed moves on interest rates. I do not think they will. That will come out at 1:00 CST. 

 

 

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Veteran Contributor

Re: And it's all so predictable

that the F12 monkeys would refuse to hike interest rates, ja...

 

You knew the rally was coming...

 

 Markets were afraid of Grandma Yellen, ja...

  

Read more about it here :

 http://www.federalreserve.gov/newsevents/press/mon​etary/20150617a.htm

 

********MEANWHILE**********it's the "Mother's Day" CORN soon to be the next hot topic-

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