OptionEye Macro Outlook May 12th
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!