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ShelladyOptions
Senior Contributor

OptionEye - Macro Outlook - Oct 29th

Good morning. 

 

Corn futures are up 4, beans 12 and wheat 4.

 

Brazil drought still the main driver for beans and Russia for wheat. 

 

The 10 year yield sits at 2.28% after yesterday's rally and as we wait the FOMC decision. 

 

Stocks have slipped a tad waiting for the news ans the S & P futures are 3 points lower. 

 

Gold is down .88 cents to $1227.67 and oil sits at $82.20 up .78 cents. 

 

The dollar is down .05 to 85.35. 

 

We get the FED today and expectations are heavily betting that they end QE. This will keep the markets in check until the news is out. 

 

 

 

 

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