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Senior Contributor

OptionEye Macro Outlook May 3rd

Good morning. 


Overnight sees corn steady to a bit easier, beans are steady better and wheat is 5 lower. Interesting to note that the volatility in all 3 was lower, some significantly yesterday. Corn vol was of 2%, beans off 1% and wheat getting hit hard off more than 3%. 


Stocks are going to open a little lower with the S&P future down over 4 points and the Dow down 23 points. 


The dollar is hovering around 99.09 which is up .11. 


The 10 year is a little lower at 2.29% as investors still act confused. 


The oil market got hit yesterday and is a bit higher this morning trades at $48.01 up.35. Gold is lower and trades at $1253.73 down $1.37. 


Today we get MBA Mortgage Applications, ADP Employment Change, Markit PMI's ,ISM and the FOMC Rate Decision. No change is expected. 




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