OptionEye - Macro Outlook - May 11th
I hope everyone had a great mother's day weekend.
Overnight corn was relatively unchanged, beans up 5 and wheat down a penny with wheat speculators the most bearish they have been on record as the Kansas drought begins to ease.
The 10 year yield is at 2.18% moving a bit higher this morning and still sorting through the jobs numbers from last Friday. The stock market is a little lower this morning even after a rate cut in China overnight. The S & P future is down 1 point in early trade.
Oil is down .42 cents to $58.97 and gold is down $1.68 to $1186.70.
The dollar is a tad stronger this morning at 95.08 up .29.
Not a lot on the docket this morning with WASDE tomorrow, grains may be quiet.