OptionEye - Macro Outlook - Oct 22nd
Corn up 4, beans through the roof up 13 and wheat up 3. Dry conditions in Brazil a main leader in chatter pushing the weak shorts to bail on their under funded postions. Use this as an opportunity..
The 10 year yield is at 2.20% and sitting pretty close to home all day yesterday.
Stocks are little changed to mixed to start the day after impressive gains blew all of the dooomsdayers (me being one of them) out of the water after the weekend.
Gold is lowere by .30 cents to $1248.33 and oil is a little higher to $82.77 up .28 cents. Everything seems to have settled down a lot since last Wednesday.
The dollar is up to 85.45 up .15 today.
Today's news will be Mortgage Applications and CPI.