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Senior Contributor

OptionEye Macro Outlook May 4th

Good morning. 


Overnight we see corn down 3 to 4, beans down 5 to 6 and wheat down 1. 


The stock market is going to open lower this morning with the S&P future down 13 points and the Dow future down 97 points. 


The 10 yield is showing signs of nervousness and has traded below 1.80% to 1.79%. 


The dollar has rallied off its lows and trades at 93.12 up .18. 


The oil market is slightly higher at $43.83 up .18 cents and is relatively quiet. The gold  market is backing off today at $1276.65 down $9.87. 


Today we get MBA Mortgage Applications, ADP Employment Change, Trade Balance, Markit PMI's, ISM Non-Manufacturing Composite, Factory Orders, Durable Goods and Capital Goods. Lots to digest. 

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