05-06-2014 07:41 AM
OptionEye Morning Market Macro Outlook - May 6th
Overnight, beans lower by 15, corn down 4 and wheat down 4 as well.
Weather the main driver overnight as things look drier and more conducive to field work.
No real big economic news out this morning has stocks just slightly lower.
Oil is up by .14 cents to $99.62. Gold is lower by $1.98 to $1308.29. The dollar is much weaker this morning to 79.07 down .41. That could help stem the decline in the commodities sector.
The 10 year has moved back up to 2.60% staying well entrenched in the recent range.
Things have been slow here as farmers are in the field, the FED talks out of both sides of its mouth and the economy gives mixed signals. Something has got to give.