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ShelladyOptions
Senior Contributor

OptionEye Macro Outlook Oct. 9th

Good morning.

 

Today is WASDE. The market has been posturing all week. I don't expect any surprises but things have been kind of weird as of late. The Fed, interest rates and global issues have traders on their heels.

 

Overnight grains see corn up 2, beans up 4 and wheat up 3.

 

The stock market rallied yesterday after the FOMC minutes and this morning is adding to those gains with the S&P future up almost 3 points and the Dow future up 22.

 

The 10 year yield climbing to 2.08% with a rallying stock market.

 

The oil market today is rallying to over $50 to $50.60 up $1.17 with OPEC talking up demand numbers. Gold is up as well to $1154.49 up $15.47

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The dollar is weaker to 94.81 down .50.

 

Other than WASDE today we get the Import Price Index and Wholesale Inventories.

 

Have a great weekend.

 

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