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Senior Contributor

OptionEye - Macro Outlook - May 21st

Good morning. 

 

Overnight corn up 2, beans up 3 and wheat up 4. 

 

As we get closer to tomorrow afternoon we will see the volumes dry up and maybe even more volatility - be careful. 

 

The stock market looks to open a little lower with the S & P future down almost 4 points. 

 

Oil is higher and making a move towards $60 again. Currently oil is at $59.70 up .72 cents. Gold is virtually unchanged at $1209.54 down .28 cents. 

 

The 10 year yield sits at 2.23% and is listless, looking for direction. Yesterday's FOMC minutes really were not a shocker and left things just as ambiguous. 

 

The dollar is a little weaker at 95.09 down .35. 

 

Today we get Initial Jobless Claims, Markit US Maunufacturing PMI, Existing Home Sales and Leading Index. 

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