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OptionEye Macro Outlook Sept. 14th

[ Edited ]

Good morning. 

 

U-G-L-Y. 

 

That pretty much sums up the USDA from yesterday. The numbers surprised to the bearish side adding BPA to corn and beans flying in the face of most estimates. Beans almost had a 30 cent range yesterday. 

 

Overnight sees corn slightly lower, beans up 3 and wheat up 2. 

 

The stock market points to a lower opening with the S&P future down almost 4 points and the Dow future down 22 .

 

The 10 year yield making a decent comeback over the last few days to 2.16%

 

The crude oil market has been out of the headlines and relatively flat at $48.60 up .37 cents and gold is very quiet at $1332.76 up .96 cents. 

 

Today we get MBA Mortgage Applications, PPI and the Monthly Budget Statement.