OptionEye Morning Market Macro Outlook - May 28th
Corn at its lowest level in more than 12 weeks as planing accelerated last week and the 200 day moving average was also broken as we got below that critical 473 level. Corn is currently down 3. f
Beans are up 8 and wheat is down 3.
The 10 year will be the tallk of the town this morning falling below 2.50% again today.
Gold is suffering from deflation talk and stands at $1265.67 up .77 cents. Oil is still bid at $104.12 up .01 cent.
The dollar is a little stronger at 80.46 up .11.
Stocks still setting records as we sit and wait for a corrcection in stocks that may be further off than we can imagine.
The stories still will be food and energy inflation, low growth and interest rates. The world is scratching its head about how our 10 year is at such a low yield level. But, I argue, how could you expect our rates to be at 3.00% when we have Italy at 2.93%. It is all about relative value, not true value.