OptionEye - Macro Outlook - Nov. 24th
Corn down 1, beans down 6 and wheat up 2.
Beans trade lower for the first time in the last 3 sessions as the looming bumper crop weighs on prices.
Stocks are higher as more QE talk from the ECB over the weekend and a report out late Friday that the rate cut in China might not be the last. Oh well. We used to rally on good news, not accomodative, weak economy bad news.
Crude slipping overnight to $76.27 down .24 cents. Oil is off $5.51 to $1196.04.
The 10 year is still stuck in a range and sits at 2.32%.
As far as economic news we get Markit US PMI and Chicago Fed Nat Activity Index.
The dollar is high but a tad weaker at 88.23 down .07.
Re: OptionEye - Macro Outlook - Nov. 24th
Looming bumper crop of soybeans? 2015 crop? Alrighty then.
Record low temps last week......Now a heavy rain event with thunder & lightning........all of this for November. The weather is wacky. Not sure I'd put my eggs in the basket of bumper crops for 2015 at this stage of the game.