OptionEye - Macro Outlook - Sept. 16th
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.