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Senior Contributor

OptionEye Macro Outlook May 12th

Good morning. 


Overnight sees corn mixed, beans 3 to 4 lower and wheat steady to a shade easier. Funds were back in selling corn and beans yesterday. 8k corn and 4k beans. 


The dollar is sharply unchanged at 99.61. 


The stock market will open a little lower this morning with the S&P future down almost 5 points and the Dow future down 28 points.


The 10 year yield is a little lower at 2.37%.


The oil market is quiet and stands at $47.74 down .09 cents. Gold is a little better this morning at $1228.65 up $3.60. 


Today we get CPI, Retail Sales and the University of Michigan Sentiment Surveys. 


Happy Mother's Day to all the moms out there. Have a great weekend!



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