OptionEye Macro Outlook March 15th
Overnight sees corn up 1 to 2 cents, beans up 7 to 8 and wheat up 3.
The dollar is a tad higher at 89.75 up .05.
The stock market is pointing to a mixed open with the S&P future unchanged to slightly easier and the Dow future up 25.
The 10 year yield still soft at 2.81%.
The crude oil market is quiet at $60.97 up .01. Gold is lower at $1322.88 down $1.82.
Today we get Empire Manufacturing, the Import Price Index, Export Price Index, Initial Jobless Claims, Continuing Claims, the Philadelphia Fed Business Outlook, the Bloomberg Consumer Comfort Index, the NAHB Housing Market Index and TIC Flows.
Re: OptionEye Macro Outlook March 15th
This small bean rally is what I call "the hip hop abs rally" just when you think it`s gone bean price comes back. Just like every week it`s your "last chance to get 75% off hip hop abs" and that golf club that`ll turn you into Tiger Woods.
I want a 40 cent rally in new crop beans and 90% off hip hop abs, then I`ll pull the trigger on both 🙂