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Senior Contributor

OptionEye Macro Outlook - Nov. 17th

Good morning.


Overnight corn up almost 2 cents, beans up 1 and wheat down 2. The combined net-short positions across corn, wheat and beans totalled 131,650 futures and options contracts in the week ended Nov. 10th. This compares with a total of 13,952 the prior week.


Teh stock market is immune to the world situation and was up triple digits yesterday and looks to open higher today with the S&P future up over 7 points and the Dow future up 83 points.


The 10 year yield is at 2.28% and edging higher.


Oil popped yesterday but is lower today by .49 cents to $41.25. Gold is lower as well to $1078.54 down $4.21.


The dollar is stronger again and trades at 99.52 up .08.


Today we get CPI, Industrial Production and Capacity Utilization. This will be something to get our teeth into.



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