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Senior Contributor

OptionEye - Macro Outlook - Mar. 10th

Good morning. 


USDA report today...things will be slow until the release at 11:00. I am not looking for anything crazy as the real moving report will be acreage at the end of the month. 


Overnight corn was down 1, beans down 4 and wheat down 4. Yesterday we had a little short squeeze on stories of a lower soybean carryout today. We shall see. The real story is how strong the dollar is this morning. Currently it is up .72 to 98.31.


Gold is down $5.06 to $1162.09. 


Stocks are easier on the rallying dollar and the S & P market is lower by over 14 points in early trade. 


Oil is lower by .37 cents to $49.63. 


The 10 year yield is coming in as well to 2.17% having been out to 2.25% just a few days ago. 


Things are getting difficult with job losses and energy bankruptcies. How can the FED justify their rate hike stance? We wait with baited breath. 

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