4 28 DC Recap

Recap of the week for April 28, 2017

April 28, 2017

Highlights:

  • French election on May 7- Volatility could accompany a surprise
  • Precious metals down but palladium makes a new high
  • Gold down 1.32% for the week
  • Silver falls 3.97% and platinum loses 2.67%
  • Palladium makes a new high at $830.35 and closes 4.22% higher on the week
  • Industrial commodities consolidating
  • Copper gains 1.97%
  • Iron ore rises 1.13%
  • The Baltic Index down 5.10%
  • Lumber falls 4.26% for the week
  • WTI crude oil down 0.60% on the week
  • Brent down 0.62% and rolls to July
  • Gasoline and heating oil under perform down 6.06% and 3.31%respectively
  • Crack spreads tank- gasoline crack plunges 20.41% and heating oil crack down 11.58% on the week
  • Natural gas down 2.60%
  • Ethanol down 1.77%
  • Soybeans down 0.47%
  • Corn up marginally posting a 0.76% gain on the week
  • Wheat the best performer up 2.67%
  • KCBT at a premium of 5 cents over CBOT wheat up 5.50 cents on the week
  • Sugar down 2.06% and takes a peak under 16 cents
  • Coffee up 0.23% after making a lower low
  • Cocoa down 0.38%and close to lows
  • Cotton down 0.59% but puts in a bullish key reversal trading pattern on the monthly chart in April
  • FCOJ gains 3.50%
  • Live cattle charge 6.28% higher as the grilling season only one month away
  • Feeder cattle gain 8.75%
  • Hogs find a bottom and rally 8.31%
  • The dollar down 0.98% as the euro explodes higher and moves towards $1.10 level in the wake of the first round of the French election
  • Long-Bonds close lower at 153-02 level down 0-31 on the week
  • Dow Jones Industrial Average closes Friday April 28, at 20,941 up 393 points on the week- NASDAQ rises to an all-time high

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