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ShelladyOptions
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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