cancel
Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

OptionEye - Macro Outlook - Sept. 16th

Good morning. 

 

Up, up and away. 

 

Crop numbers yesterday weren't a surprise. I think the market is a little oversold here. What is your upside if you short corn here?  Not much. Beans also bouncing but I still think they are a sell. Wheat also up with corn. 

 

So, as we sit at press time, corn up 5, beans up 10 and wheat up 5. Nice day to be a bull. 

 

Today we sit and wait for the Fed which will release their news tomorrow. Stocks are a litlle easier following stocks in Europe lower. 

 

The dollar is still strong at 84.23 which is down by .02. 

 

The 10 year is falling and sits now at 2.56%

 

Gold is up, yes up. Gold now trades at $1238.65 up $5.37 and oil is off .27 cents to $92.65. 

 

Lots of Producer Price Index numbers today will give us another look at inflation. 

 

0 Kudos