OptionEye Macro Outlook Sept. 7th
Very quiet yesterday as the trade wiped the holiday sleep out of their eyes.
Today may be different. We have a crop report on Monday so I expect some squaring and positioning over the next few days.
Overnight corn is unchanged, beans are up 7 to 8 and wheat is uo 1.
The interest rate arena is starting to bubble up. The 10 year yield is at 1.53%. If 1.51% goes, we go straight to 1.44%.
The stock market is going to open a little lower with the S&P future down 2 points and the Dow future down 10 points.
The crude oil market is up at $45.26 up .43 cents and gold is lower at $1348.96 down $1.05.
The dollar weakend significantly yesterday and is stable this morning at 94.83 up .01.
This morning we get MBA Mortgage Applications.
Re: OptionEye Macro Outlook Sept. 7th
Fat and feeder cattle are taking a bath, cheap corn isn`t enough. The dollar is weaker now that Janet blinked. Putin might cut oil production?