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Senior Contributor

OptionEye - Macro Outlook - June 26th

Good morning. 

 

Do we have a market on our hands? Finally starting to see massive short covering as funds bail out of shorts on continued forecasts of wet weather in already wet areas and a June 30th report next week. Crop conditions will deteriorate on Monday, report on Tuesday and then we have the July S & D right around the corner. I think this could be a bumpy ride. 

 

Overnight corn up another 5 cents, beans up another 8 cents and wheat up another 13 cents. Strap up your helmets and seatbelts. 

 

The 10 year yield is at 2.40% up a tad from yesterday and looking for more economic fodder to justify its next move. 

 

Stocks are a little higher this morning with the S & P up almost 4 points in early trade. 

 

Oil is lower by .16 cents to $59.54 and gold is up .74 cents to $1173.99. 

 

The dollar is basically unchanged at 95.19 up .01. 

 

Today we will see more fireworks in the Ag products as the trade wrestles with wet forecasts on already wet areas .

 

We get the U. of Mich Sentiment Survey today and that is about it. The market in fixed income and equities will have a tug of war with Greece and our own economic conditions. 

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Honored Advisor

Re: OptionEye - Macro Outlook - June 26th

This is old news for us out on the farm........welcome to the party.   Smiley Wink

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