OptionEye Macro Outlook October 17th
Overnight sees the grain market a bit better this morning with corn up 2 to 3 cents, beans up just over 9 cents and wheat 2 cents better as well.
The dollar still strong as it clings to 98.00 down .01 in quiet trade.
The 10 year yield bleeding out to 1.79% on rate hike fears but still a very orderly trade.
The stock market is a little weaker on some slightly negative news from China. Banks of America beats on earnings which helps to stem the tide of light selling. The S&P future is lower by just over 1 point and the Dow future is lower by 17 points.
The oil market is quietly hanging around $50 today and trades at $50.48 up .13 cents. Gold is a tad higher as well to $1254.35 up $2.93 in early US trade.
Today we get Empire Manufacurint, Industrial Production and Capacity Utilization.