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Senior Contributor

OptionEye Morning Market Macro Outlook - May 8th

Good morning.


Corn slightly lower. Beans up 6 and wheat down 5. Stories of wheat supplies being ample enough have wheat on the defensive and corn being dragged with it. 80 degrees here in Chicago today. Imports of beans to China climbed to highest level in four months has beans a little bit bid this morning.


10 year yield has climbed a bit to 2.16% and stocks are just a tad lower.


Crude is hanging around the $100 level and currently trades at $100.52 down .25 cents.


Gold is up after sliding on the Putin comments yesterday trading at $1292.43 up $2.51.


Again, with the crop report tomorrow we will be jittery in the grain complex today.


The dollar is weaker at 79.08 down .11.





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