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ShelladyOptions
Senior Contributor

OptionEye - Macro Outlook - Sept. 24th

Good morning. 

 

Still seeing investors selling corn puts to buy bean puts..that trade won't die. 

 

Corn up 1, beans up 3 and wheat up 4. 

 

Interesting story on the relationship of gold to corn. Today an ounce of gold buys 370 bushels of corn. This is the most since 1975. While most might dismiss this information in the face of a record crop, some analysts are now saying that this may be just the time to 'NOT' be short corn. Interesting stuff. 

 

Gold this morning is down $2.32 to $1221.02. Oil is off .11 cents to $91.45. 

 

The 10 year yield is trading a tad lower to 2.53%. 

 

Stocks are up today after a two day slide. Today we get New Home Sales and Mortgage Applications which will be interesting to see. The dollar is a little stronger at 84.75 up .09. 

 

 

 

 

 

 

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