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Senior Contributor

OptionEye Macro Outlook March 3rd

Good morning. 

 

Overnight sees corn down 1 cent, beans down 2 and wheat down 3 to 4. 

 

The stock market is pretty quiet and looks to open steady this morning. The S&P future is lower by 3 points and the Dow future is unchanged. 

 

The dollar has weakened a bit overnight taking a bit of a breather. This morning the dollar index stands at 101.94 down .26. 

 

The 10 year yield is right at that 2.50% level. It will be interesting to see if we can break through and/or close higher. 

 

The oil market not faring as well and still sits in the middle of its latest range. This morning oil trades at $52.74 up .13 cents. Gold is lower at $1227.06  down $7.25.

 

Today we get Markit US PMI's and ISM. 

 

Have a great weekend. 

 

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