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Senior Contributor

OptionEye Morning Market Macro Outlook - April 23rd

Good morning.

 

Decent run up in corn yesterday on cold and rain delaying the crop. Beans declined for a fourth day as a slump in Chineses demand story does the rounds. Sometimes it amazes me on what the market players want to focus on day by day. Perplexing.

 

Stocks went up again...6 days in a row on what I would say is absolutely nothing. Today they have backed off a tad for the opening. We shall see if the bulls take charge again. I wonder if the talking heads would take 100% of Grandma's money and invest it in the market here at all time highs....

 

Corn unchanged, beans off 6 and wheat off 4.

 

Oil is taking some serious pipe here and was off over $2.00 yesterday on over supply concerns yesterday and is lower by .21 cents today to $101.54. Gold is up $3.51 to $1287.30.

 

The dollar is weaker by .18 to 79.72.

 

The volumes here have been pretty paltry in all three asset classes - equities, fixed income and commodities. The world sits and waits.

 

 

 

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10 Replies
Senior Contributor

Re: OptionEye Morning Market Macro Outlook - April 23rd

And on another interesting note...the CME hasREVISED LIMITS in Corn, Wheat and Beans.

 

Corn was .40 cents, now is LOWERED to .35 cents.

 

Beans were .70 cents and now has been RAISED to $1.00

 

Wheat was .60 cents and now has been LOWERED to .45 cents.

 

These changes take effect May 1st.

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Veteran Advisor

Re: OptionEye Morning Market Macro Outlook - April 23rd

Why would the CME change limits?  Not like we are hitting limit up or down on Soybeans every week.   Anyhow, I guess we might have wider swings to play with.

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Highlighted
Senior Contributor

Re: OptionEye Morning Market Macro Outlook - April 23rd

Wow!

$1.00 on soys for a limit move. That looks wild. I have to wonder why they lowered corn. You would think since they raised soys so much they would raise the corn also.

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Senior Advisor

Re: OptionEye Morning Market Macro Outlook - April 23rd

Morning all , But just wondering here - if the dollar limit it to help control the players in the game - just say'n' If I was one that would jump in and out of the market game - Would I think twice about dropping a buck ?

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Veteran Advisor

Re: OptionEye Morning Market Macro Outlook - April 23rd

ECIN,

 

Why would I worry about dropping a buck when the market can't even get to seventy cents?

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Senior Advisor

Re: OptionEye Morning Market Macro Outlook - April 23rd

To make you think  , lol    Would or could you stand to lose it ? Just throwing that out there

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Veteran Advisor

Re: OptionEye Morning Market Macro Outlook - April 23rd

You have to support a losing day here or there.  Part of the game.  No one ever wins everyday.

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Senior Contributor

Re: OptionEye Morning Market Macro Outlook - April 23rd

I have always believed limits should be set as a percentage of price to avoid these random adjustments.
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Senior Contributor

Re: OptionEye Morning Market Macro Outlook - April 23rd

ECI if that bothers you think about what they do to us at the gas station. I've seen .45 cent moves in the last few months that make no sense (cents).
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