OptionEye Macro Outlook Sept. 12th
Overnight grains see corn steady to down 1, beans 5 to 6 lower and wheat steady eaiser. It is all sure to change by 11:05 CST today.
The dollar is wreaking havoc and this morning is basically unchanged at 95.32 down .01. The stock market doesn't care and the S&P future is down 14 points and the Dow future is down 120 points. Here we go again.
The 10 year yield is trading higher at 1.68%. The world is trying to come to terms with higher rates but I still say it isn't going to happen. If they do raise, and they shouldn't, the market will be shook by the reason for the raise, not the action of the raise.
The oil market is lower again this morning at $44.98 down .90 cents. The gold market is hanging in there at $1325.95 down $1.98.
Today it will be the stock market and WASDE report.